Rmb Appreciation Will Form The Textile Industry, The Process Of A Game
RMB appreciation, and more difficult with the signing of foreign export sales drop; product quotes, orders to undertake uncertain; textile business has been tremendous pressure on some textile losses or even bankruptcy … … These are the appreciation of Renminbi a concern.
Appreciation of the renminbi, which is under the market rules configured in advance arrived.
All hardship does not change the yuan revaluation, the game becomes more and more expected after 30 days. This situation of course, textiles and garments, footwear and other enterprises which can not be underestimated the reality of the situation, after all, as an exporter of textile relatively high proportion of the industry, the yuan appreciation is definitely evident on its impact
Long media, the Ministry of Finance in late March sent a research group to Zhejiang, Jiangsu and Shanghai for a wider range of the RMB exchange rate stress test recently, textile exporters will begin site visits in person to the textile industry of Zhejiang. Summit Forum held in various localities to further understand and explore the textile industry’s views on the RMB exchange rate, a strong push to upgrade the textile industry.
March 26 at the “Innovation of the Year 2009 China Textile Industry People” recognition and forum From the information, the current textile export has improved, but the appreciation of the renminbi will make textile exports worse. Vice President of China Textile Industry Association, said Gao Yong, the current average net profit of the textile industry rate of around 3% -4%, not more than 5%, if the yuan has risen more than 5 percentage points, more than half of enterprises will be dead .
In general, the RMB appreciation on the textile, clothing and other labor-intensive, low-tech companies most affected businesses in these industries rely on cheap labor and low-cost advantages of exports, low profits, especially the most typical of the textile industry. According to related statistics, for every 1% appreciation of RMB, the profit of Hubei textile decline of 3%, the RMB appreciation on the negative impact of textile exports is fundamental.
2010 marked the situation two months of recovery in textile exports, but now we do not dare to enter a stable recovery phase, can think out of the plight of China’s textile exports have it. RMB revaluation benefits directly impact the industry, for China’s textile industry is still severe, many people look forward to continue to improve this year, the RMB exchange rate formation mechanism, and keep the RMB exchange rate at a reasonable and balanced level stable.
In fact, the textile industry to lay down all external expectations, from the current self-awakened to the future.
The textile industry increasingly need high-end development of the industry, that is the real impact on business should come from the design, innovation, the influence of fashion trends, rather than appreciation of the RMB. To increase investment in science and technology development, but also the vast number of SMEs mandrel services, public service platform for SMEs in technological innovation, product development, market development, providing social intermediary services.
Pressure of RMB appreciation now much larger than the original. Historical experience, since July 2005 after the Health Reform by large sectors of the industry will experience significant consolidation. In addition during this integration process into a game, are constantly developing their potential savings, better to adapt to global changes in market demand.
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