The Appreciation Of The Renminbi Compresses The Export Shoes Enterprises, And The Textile Enterprises Passively Accept The Loss Of Exchange Rate.

"Recently, the two bills that have been collected recently have been settled in US dollars, and they are all settled in US dollars. I didn't expect that the appreciation rate of RMB would be so large that only 5% of the profit margins could only get around 4% now." For the recent appreciation of the renminbi, a certain Jinjiang Spin The head of the company, General Gao, was somewhat helpless. "Now the order is hard to take, and the bargaining power of the traditional industry is limited, so it can only passively accept the loss of exchange rate."

　 Exchange rate change "phagocytosis" corporate profits

In the first 7 months of this year, the RMB depreciated against the US dollar in general. Subsequently, it took only two months, and the renminbi recovered all the previous 7 months' decline. This week, it broke through the 6.3 pass and created a new high since May 11th. Many export enterprises were caught unprepared.

The change of exchange rate makes the life of enterprises more difficult. "Every order of a foreign trade enterprise has to go through several processes: first, negotiate with foreign customers, confirm the conditions of price and delivery, and then make the order to the factory for production, and finally deliver the product to receive the money. Generally, this cycle will take 2 to 3 months. During the period, if the exchange rate changes, the enterprise will take risks. Gao said.

Gao gave reporters an account. Taking an order of 1 million dollars, for example, the time of signing the contract was July 25th, the exchange rate of US dollar to RMB 1: 6.390, and October 29th. exchange rate The lowest touch was 6.2370, and the difference was 0.153 yuan. At that time, the settlement profit was reduced by about 150 thousand yuan.

Using options to avoid exchange rate risk

It is understood that in the avoidance of exchange rate risk, because the difficulty of RMB settlement is still high, most enterprises use the tools mainly for forward settlement and sale, but with the increase in the two-way floating of RMB, this tool seems to be too applicable. According to the insiders, when the enterprises are uncertain about the future RMB exchange rate, they can use two kinds of tools, such as the RMB option or the combination option. An enterprise can lock in the future exchange rate cost by paying the right option fee.

"In the future, when the RMB exchange rate is favorable to the enterprise, the enterprise can exercise the right of the option contract. When the exchange rate is unfavorable to the enterprise, the enterprise can also give up exercising its power, and the cost is only the contract price." Financial experts. For example, if an enterprise accepts a sum of 1 million dollars in 1 months, it can purchase a bullish option from the bank, and stipulate that it will have the right to sell the US dollar at the price of 6.3 yuan to 1 US dollars in the future. If the price of RMB is higher than US $6.3 after maturity, the enterprise can choose the right not to exchange money at the expense of the option fee to the market, and when the price of RMB is less than 6.3 yuan against the US dollar, the enterprise can sell the US dollar to the bank at the agreed price, so as to avoid exchange rate loss.

Increase imports and increase added value of products

However, experts say that financial instruments are not the fundamental solution to exchange rate changes. The overall technical content of the commodities exported by enterprises is not high, resulting in weak bargaining power and greater price fluctuation. "When the renminbi appreciates, upgrading technology and increasing added value is a long way to go."

"This year spent about 3000000 yuan to import high-end CNC quilting from abroad, which is several hundred thousand yuan less than estimated. Before relying on artificial technology, only more than 10 products can be produced in 1 days. Now it can produce more than 100, and the efficiency is increased by 10 times. " With the introduction of advanced equipment, Quanzhou Tian Zhi Australia new machinery factory has tasted the sweetness of technological transformation, greatly reducing labor costs, and greatly improving the capacity and efficiency of enterprises.

In addition to updating equipment, enterprises can also import high quality raw materials. "International shoes The price difference between the material and the domestic common shoe materials is about 2 yuan for a pair of shoes. A shoe material supervisor in Quanzhou introduced, but because the former used environmentally-friendly materials, it could greatly increase the added value of the products. The imported shoes made of finished shoes could be nearly 10 yuan higher than the average shoes.