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RMB Appreciation: Shishi Spun Clothing Exports Face New Challenges

2010/11/13 11:51:00 54

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11 days

RMB

The central parity of the US dollar reported a sharp rise of 338 basis points in 6.6242 days and two days. The important point of the RMB against the US dollar was also at risk. The RMB appreciation once again set the new high since 2005.

Shishi, a company with a sum of $500 thousand, should be debited to customers for several days. The exchange losses will be self-evident according to the current exchange rate settlement. Shishi's outward oriented economy is facing new challenges and challenges.

The biggest impact of the sudden change in the exchange rate is the manufacturing industry of the second industry. The biggest impact is on the textile and garment industry, leather and footwear industry, sporting goods industry, communications and electronics industry, handicraft industry, medical and pharmaceutical industry, agricultural and sideline food processing and food manufacturing industry. The 8 largest industries whose annual export value exceeds RMB 100 million, most of the export enterprises of Shishi are characterized by low price, thin profit and large volume.

The recent appreciation of the renminbi has been exposed.

Shishi export enterprise

The low cost competitive advantage is rapidly losing, but it also forces Shishi export-oriented economy to enhance its self innovation ability, increase the added value of products and welcome the development of RMB appreciation.

New opportunities

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Surplus, the city's dyeing and finishing industry association decided to pfer the excess capacity to the foreign market before the appreciation of the renminbi. The Shishi economic and trade pformation pilot enterprise Hongli dyed and dyed Garment Co., Ltd. was originally one of the earliest and smallest dyeing and finishing enterprises in Shishi. If it adheres to the traditional mode of production, it can no longer participate in the vicious competition in the local market. The company spent 8 months in prison last year, and finally successfully developed a series of high value added innovative fabrics in the international market. Its unit price is 10 times higher than the average unit price of the Shishi needle dyeing industry at present. One price quotation, the foreign offer is acceptable, and the bargaining power is very strong. Shishi printing and dyeing industry has serious capacity.

The successful pformation and upgrading of Manulife company shows that the export enterprises of Shishi should strive for long-term development. Upgrading and pformation is a must.