China'S Foreign Exchange Reform Forced Shoe Companies To Move Westward (2)

According to incomplete statistics from China Commercial Daily reporter, at present,

For example, Foshan ceramics, which has been popular all over the world, has undergone such pformation. They moved the factory from Guangdong to Shandong, and now moved the factory to the Ordos area. Although such migration is cumbersome, insiders told the China Daily News reporter that the factory relocation can help them save 24 million yuan a year, which also forms their own unique competitive advantage.

Fu Peng pointed out to the China Commercial Daily reporter that in order to create favorable conditions for the coastal enterprises to move westward, the government's primary task at present is to build roads and other infrastructures in the western region.

When these infrastructures are complete, a large number of companies and talents will be willing to flow into the western region, thus driving the enthusiasm of the whole region. Of course, correspondingly, health care and education will be the focus of the development of the western region in the future.

With the deepening of the RMB exchange rate reform, the industrial pformation between the East and the west is an important mission that the country will accomplish at any cost. It may even mean a certain degree of sacrifice.

Because for our country, the most important thing now is to promote the pformation of enterprises. The eastern region has been pformed into the three main industries, such as the service industry and the financial industry. Their main tasks are to export, trade, finance, exhibition and so on.

The products themselves are processed and pported in the western region. When the economic development of the western region reaches a certain level, they can even sell domestic products to the Middle East and Central Asia, and penetrate into their core areas through trade. This will also lay a solid foundation for diplomacy.

Fu Peng predicts that the western development of the western region will take nearly 30 years to complete.

However, the determination of the state to develop the West will not be weakened.

President Hu Jintao visited Xinjiang and Inner Mongolia many times in one year, and the capital investment has totaled 682 billion yuan.

In many people's eyes, this has immediately become a "new stimulus policy".

In the next 10 years, the western region will become a new engine for China's economy.

It is not hard to imagine that this "economic relay between the East and the west" will become a gorgeous performance that shocked the world.

As long as the eastern and Western economies achieve coordinated development and form a complete "Taiji" trend, and with the deepening of the RMB exchange rate reform, China's economy will surely be at the top of the world.

review

Looking back at all previous exchange rate reforms, it is easy to see that every exchange reform is leading China's economy to continue to take a bright road. Of course, the trade sector is not only the first victim, but also the most direct beneficiary. Exports have also become the fastest running vehicle in the three driving forces of China's economy.

In January 19, 1949, the first exchange rate of RMB in New China to western countries was generated at Tianjin port. After that, the fixed exchange rate system was implemented for a long time, and RMB was overvalued over a long period of time.

The floating exchange rate system was adopted from 1949 to 1952.

From 1953 to 1973, in the planned economy system, the RMB was officially linked to the US dollar, and the exchange rate remained at the level of US $2.46 to 2.46 yuan.

But at that time, there was little foreign trade in the mainland of China, so the significance of the RMB exchange rate was not great.

By 1973, due to

From 1980 to 1994, the dual exchange rate system was implemented in the mainland of China.

From 1981 to 1984, a double exchange rate system was initially implemented. Apart from the official exchange rate, the internal settlement price of foreign exchange for foreign trade settlement and the calculation of economic efficiency of foreign trade units was stipulated separately. The price was fixed at 2.80 yuan according to the export exchange cost at that time.

Since the exchange rate reform in 1994, the reform of RMB exchange rate formation mechanism can be divided into four stages.

In the first stage, when the RMB exchange rate was merged in 1994, the exchange rate of RMB against the US dollar increased gradually.

After 2 years of operation, the exchange rate of RMB against the US dollar began to stabilize. The exchange rate of RMB against the US dollar basically stabilized at around 8.30 yuan, and the maximum fluctuation range was no more than 0.4 yuan.

The second stage, in July 2005, China announced the managed floating exchange rate system.

After the RMB was decoupled from the US dollar, the RMB exchange rate against the US dollar has maintained a unilateral appreciation trend.

The third stage, from July 2008 to date, the central parity of the RMB against the US dollar ranged from 6.82 yuan to 6.86 yuan, especially in the range of 6.82 yuan to 6.84 yuan.

China has narrowed the fluctuation of RMB appropriately to cope with the international financial crisis. This is in line with the economic interests of our own country and contributes to the rapid realization of stability and recovery in our economy.

The fourth stage is to further promote the reform of exchange rate formation mechanism and enhance the flexibility of RMB exchange rate.

In fact, this reform should not be seen as a new reform, but a continuation of the reform process interrupted by the crisis.

It is worth noting that in 2005, the RMB exchange rate reform started.

With the pace of RMB appreciation, the Shanghai Composite Index rose from 998 to 6124 in October 2007.

Although there are stock reform factors and the prosperity of the real economy in the great bull market, it is undeniable that exchange reform is one of the important factors to start the bull market.

"The market environment is somewhat similar to what it was 5 years ago."

Fu Peng, chief strategist of China International Futures researcher, boldly predicted the China Commercial Daily reporter. It is expected that the crazy bull market will be reproduced from 2005 to 2007 in the next 5 years.