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The Textile Industry Must Actively Respond To The Pressure Of RMB Appreciation.

2011/8/2 14:00:00 35

July 20th

RMB

The median exchange rate for the US dollar is 6.4592, once again creating a new high after the reform.

Since the beginning of this year, with the increasing inflation pressure, economic growth has slowed down.

The RMB exchange rate has reached a new high, which has undoubtedly increased the pressure on the textile industry this year.

In a sense, the appreciation of the renminbi means

China

Export competitiveness of textile products has declined.

The research shows that the sales profit margin of the textile industry will decrease by 2%~6% if the value of RMB rises by 1%.

If the renminbi appreciated by 5%~10%, the industry profit margin would drop by 10%~60%.

Therefore, the appreciation of the renminbi will have a major impact on China's textile industry, which relies mainly on exports.

The impact of RMB appreciation on textile exports is mainly manifested in the following aspects:

Price advantage weakened.

The appreciation of the renminbi will increase the export cost of textiles, and it is necessary for enterprises to raise the prices of export products if they want to maintain certain profits.

As far as SMEs are concerned, raising prices is bound to weaken their competitive advantage in the international market, which will result in certain restraint on exports and thus reduce the volume of textile exports.

Competition will become more intense.

The biggest impact of RMB exchange rate adjustment on textile exports is mainly those large and low-grade textiles, which are the main products of small and medium-sized textile export enterprises and sales of export products.

pressure

Will greatly increase.

Small and medium-sized enterprises will be struggling.

China's textile exports are mostly small and medium-sized private enterprises.

Because of their own strength, brand effect, marketing strategy and other defects, a large part of these enterprises will be in a significant inferior position in the fierce international competition in the future, and will be faced with the danger of being eliminated.

The appreciation of the renminbi will significantly increase the labor cost of the enterprises, so that the coastal textile enterprises are forced to move to the inland areas with lower labor costs, thus breaking the existing ones.

industry

Pattern.

This could be a more fatal blow to it.

The export efficiency of enterprises has been significantly reduced.

Export of foreign currency after appreciation of RMB

product

Rising prices, such as keeping international market prices unchanged, mean reducing export profits.

In fact, many foreign trade enterprises basically raise their prices to cope with the change of exchange rate in order to maintain their small export profits.

But not most enterprises can raise their prices as they wish. At present, it is more difficult for foreign customers to fully assume the cost of RMB appreciation by raising prices.

The author believes that the RMB appreciation will bring adverse effects.

Influence

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