Continued Depreciation Of The Euro, Sichuan Shoe Enterprises Worried About Shrinking Exports

　　去年12月31日，1歐元兌人民幣9.7971元；今年5月20日，1歐元只相當于8.4598元人民幣。按此計算,今年5個半月以來，人民幣對歐元升值已超過10個百分點。四川企業擔心,歐元持續貶值將使剛剛復蘇的對歐出口出現萎縮。

Low end industry, textile industry and so on.

"We lose 45 yuan for each pair of shoes."

Looking at the exchange rate offer, Li Ying, Chengdu Emin Shoes Co., Ltd. said that the settlement rate was 9.8 when the contract was signed with customers last year. Now the euro continues to shrink and the cost pressure is too great.

Wang Yu, general manager of CITIC Bank International Department, said that for enterprises settled in euros, it is necessary to first calculate the US dollar in Renminbi and then exchange US dollars for the euro. There are two kinds of exchange rate risks.

The euro continued to decline against the US dollar, or even a new low of 1 euro to US $1.2144 over the past four years.

The export business of the two industry is very sad.

Low end textile, processing and manufacturing industries, such as labor-intensive industries, which have no pricing power basically, have low profit margins and no room for price adjustment.

The export of large mechanical and electrical equipment under the contract for foreign projects is most affected by the depreciation of the euro.

Long term plan to adjust industrial structure as soon as possible

Liu Xin, deputy director of the Provincial Department of Commerce, said that in terms of cost, Sichuan's advantage is less than that of some newly emerging countries. On the market, the space of "big goods" will be smaller and smaller, but new products, products with independent brands and products with key core technologies will not be affected by the depreciation of the euro.

Therefore, the long-term solution to the challenge is to adjust the industrial structure as soon as possible.

Figures show that in 1-4 months, the import and export performance of high-tech enterprises in our province increased by 356 compared with the same period last year, and Print-Rite's new energy, Mianyang electric and opus Op.

At the same time, the export of textile and clothing, plastic bags and other industries doubled and doubled. A pair of leather shoes 280 euros, AI women's shoes still sell well in Germany and France. In May 27th, AI min's first store in Vietnam opened in Hanoi, and many dealers placed orders for a pair of leather shoes of 4000 yuan, indicating that high-end products had a market.

Many enterprises believe that instead of using homogeneous products to squeeze the market, it is better to speed up the adjustment of structure and use the products with high added value to grasp the market's right to speak.

At present, the garment processing industry has shifted to the emerging market, while the industrial chain and the more mature industrial workers in Sichuan are taking the opportunity to "change the cage and change the birds", vigorously develop the "Smiling Curve" ends -- high-end industries and high-end industries.

Wen Ming, general manager of Suining new oasis dyeing and Printing Co., Ltd. said that direct export was 20% higher than that of domestic processing. Last year, they declared to the state that the clothing material guide industry upgrade project, invested 30 million yuan in technical pformation, and invested 1 million yuan to develop overseas markets.

In the euro devaluation period, their products are in short supply.

AI min joined hands with Italy and Germany's R & D institutions. The two foreign teams participated in the development and quality control of European products.

In 1-4 months of this year, the company achieved export of US $7 million 310 thousand, an increase of over 3 over the same period last year.

Efforts to adjust the product structure of Chengdu adida Trading Co., Ltd. and Provincial Textile Co., Ltd., exports doubled in 1-4 months.

The path of pformation is different, but ultimately it reflects industrial upgrading.

Through "winter training", these enterprises' internal motivation has been strengthened.

　　　應對方法 選擇用人民幣結算

The state will expand the scope of the RMB cross-border settlement pilot, Wang Yu said, Sichuan has been shortlisted, it is likely to be implemented by the end of this month.

Enterprises are expected to use Renminbi to settle with foreign investors and reduce exchange rate risk in the future.

CITIC Bank predicts that the magnitude of RMB appreciation will be controlled between 0-2% this year, which is relatively stable.

Export enterprises choose RMB settlement to avoid exchange rate losses.

However, judging from the previous four pilot areas, because the RMB is not an international convertible currency, the scope of RMB settlement business is limited.

"Mainly depends on the acceptance of RMB by foreign countries."

Wang Yu said that Hongkong and Macao and Southeast Asia are more interested in RMB settlement.

At present, the most realistic problem for enterprises is to choose a more stable currency to settle accounts, or to diversify the risk through multiple currency configurations.

For businesses that choose to settle their foreign currencies in a passive way, Wang Yu suggests that they can find a high point in the euro's "cut price" trend to lock in the forward exchange rate and minimize losses.