Fluctuations In The RMB Exchange Rate, Textile And Garment Industry Needs Early Preparation.

The latest data of < p > China a href= "//www.sjfzxm.com/news/index_c.asp" > foreign exchange trading center < /a > show that in June 3rd, the central parity of RMB against the US dollar was 6.171, down 15 basis points from the previous trading day, and hit a new low of nearly 9 months.

The fall of the RMB exchange rate has attracted the attention of all parties. The textile and garment industry, which relies on export earnings, is regarded as the first beneficiary.

However, in the context of low consumption in European and American markets and sharp reduction in export orders, perhaps we should reconsider.

< /p >

< p > there is an analysis that the depreciation of RMB can play a stabilizing role in the export of products, and the purchase of raw materials in China, especially in industries with high dependence on exports.

Including a href= "//www.sjfzxm.com/news/index_c.asp" > textile and clothing < /a >, electronic and electrical appliances, toy shoes and hats, furniture, building materials and construction machinery, etc., are all benefited industries.

< /p >

< p > the reasons for the short-term devaluation of the renminbi are different from those of the industry.

Some believe that this is just the result of the arbitrage of foreign exchange. Some believe that this is because the market is not optimistic about China's economy in the next 3~4 months, resulting in a weaker appreciation of the renminbi.

What is different from the past is that the relevant government agencies have publicly stated earlier that the RMB exchange rate reduction is not related to central regulation and control, and is caused by market regulation.

The uncertainty of the RMB exchange rate decline and the uncertainty of the future trend make it difficult for the textile enterprises to take action to seize the market opportunities.

< /p >

< p > at present, most of the reactions of "a href=" //www.sjfzxm.com/news/index_c.asp > export enterprises < /a > are quite conservative.

The list of export enterprises was bought a few months ago, and the price was priced at the prevailing exchange rate. If the RMB continues to depreciate, it will benefit from the settlement of foreign exchange.

But there is great uncertainty about the future direction of the renminbi.

Therefore, at present, most enterprises take a quiet attitude.

< /p >

< p > experts suggest that on the one hand, export enterprises should reduce costs by improving processes, improving management, outsourcing, and improving production efficiency, opening up new marketing channels through e-commerce, directly building channels overseas, and striving for foreign orders and retaining customers. On the other hand, we should learn financial operation knowledge as soon as possible, improve the ability to use financial instruments, and deal with exchange rate fluctuations in a leisurely manner.

< /p >

The greater the fluctuation of the RMB exchange rate (P), the biggest impact on the export enterprises is that they are at a loss when taking orders, making it difficult to make a clear expectation of the trend.

To cope with such problems, enterprises need to develop new ways of marketing and make good use of financial channels.

Textile enterprises should actively join the export credit insurance team, and pay the relatively limited and fixed insurance premium to lock in the RMB income in the future.

In this way, short-term risk can be shared to facilitate the steady operation of enterprises.

The trend of RMB exchange rate fluctuation has not slowed down. In the face of the uncertainty of future trend, enterprises should also work hard in anticipating the exchange rate risk.

< /p >