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RMB 8 To Refresh The Exchange Rate Reform To Break Through The 6.7 Pass And Pressure On Foreign Trade Enterprises

2010/9/23 16:13:00 76

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The central parity of RMB against the US dollar has been refreshing since the 8 day of the exchange rate reform, breaking through 6.7 yesterday.

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Reporters learned that many foreign trade enterprises have made long-term exchange settlement to reduce the loss of exchange rate fluctuations.

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According to foreign ministry spokesman Jiang Yu yesterday, the Sino US trade imbalance is determined by international division of labor rather than exchange rate, and the appreciation of the renminbi can not solve the problem of the US trade deficit.

Jiang Yu said that the appreciation of the renminbi is not strong enough.

Guangdong's export enterprises have just seen a glimmer of change after the financial crisis, and are facing a sudden pressure on RMB appreciation.

Business executives said that the third fourth quarter was the peak season for export trade, and many orders were ready for settlement in the near future.

If RMB appreciation is accelerated, enterprises will suffer heavy losses when settling foreign exchange.

Hongyuan motorcycle in Huadu, Guangzhou

foreign trade

Qian Jin, the head of the company, told reporters that Europe and the United States are still connected with China.

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The electronic and mechanical products have carried out "anti-dumping and countervailing" investigation, and the profit margins of the machinery industry such as motorcycles are less than 5%, and the survival of enterprises is very difficult.

"We signed an agreement with the bank at the beginning of the year, expecting that the appreciation of the people will not exceed 2%.

Since September, the sudden appreciation of the renminbi has accelerated, and most worries will affect our orders for 2011. "

This will have great pressure on the negotiation of a single price for foreign trade enterprises in the Autumn Fair held in October.

Chen Lang, chairman of Guangdong Ming long home furnishing industry Co., Ltd., told reporters that after the appreciation of the renminbi, the export tax rebate rate still has a downward pressure, which will have a huge impact on the profits of enterprises.

Chaozhou red pottery production Co., Ltd., the person in charge told reporters: "how much RMB appreciation, I will lose."

For this week, $5 million was added to the shipment and the orders on hand, but it lost nearly 500 thousand yuan in a week.

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RMB appreciation is 3%, Guangdong's foreign exchange earnings decrease by 20 billion.

Zheng Jianrong, deputy director of the Guangdong provincial foreign trade and Economic Cooperation Department, said in an interview yesterday, "although the appreciation of RMB has a positive impact on the import and export of enterprises, the adverse effects of foreign trade and economic cooperation are manifold."

Zheng Jianrong said that the appreciation of the renminbi will directly reduce the export earnings of enterprises.

"Judging from Guangdong, we have a calculation that if the total appreciation of RMB has reached 3%, the foreign exchange earnings from foreign trade will be reduced by 20 billion yuan, which means that the profits of enterprises will be reduced by 20 billion yuan."