Will The Depreciation Of RMB Affect China'S Textile Machinery Exports?

Whether the depreciation of RMB will affect China's textile machinery exports? Although the benefits of RMB depreciation will be brought to the near future, foreign customers will soon adjust their import prices accordingly.

The export of China's textile industry is undoubtedly a positive news, but from the interview situation, the domestic textile machinery enterprises have a positive impact on the market.

It is generally accepted that the depreciation of RMB is right.

Both direct and indirect pull are limited.

Xu Changyuan, marketing manager of Hangzhou Kaiyuan Computer Technology Co., Ltd. believes that the sharp decline in the RMB exchange rate is an important means to ease the loss of the speed of China's price advantage.

The decline in exchange rate should have a positive impact on the export market, but the exchange rate of the Southeast Asian countries competing with China's export products is also declining.

Data show that in the past 12 months, Malaysia in the Southeast Asian countries, the ringji fell to 28% against the US dollar, the biggest decline, and the second rupiah also dropped 18%.

Liu Ming, general manager of the Suzhou Textile Machinery Co., Ltd. also holds the same view: "compared with the exchange rate fall in these countries, the depreciation of the RMB will not have a substantial impact on the export of textile machinery."

Dai Buzhong, chairman and general manager of Zhejiang Jinfeng Textile Machinery Co., Ltd., believes that domestic economic downside risks, high domestic foreign exchange gap and the Fed's interest rate hike are still on the decline, which still bring some devaluation pressure to the RMB. However, the depreciation of RMB has limited impact on China's textile machinery export.

Dai Buzhong said that because foreign customers will soon lower their import prices correspondingly, the depreciation of the RMB will be negligible for the export earnings of China's textile enterprises.

Most textile enterprises in China will not improve their final efficiency, and their enthusiasm for investment has not been improved.

In addition, some textile machinery and accessories export business through the RMB settlement, the depreciation of the RMB will not bring any impact; some textile machinery and accessories exports through the US dollar settlement, although the benefits of RMB depreciation will soon be achieved, but the foreign customers will soon adjust the import price accordingly.

In general, the depreciation of the RMB has little effect on the textile machinery market.

Although the depreciation of RMB helps

It can indirectly increase the market demand of spinning machines, but for the time being, many textile machinery enterprises have not seen the actual growth of product sales.

In this regard, Liu Ming explained that China's textile trade exchange rate will generally lock for 3 months, so the current trade exchange rate is still used before the exchange rate has not fallen.

The peak season for textile trade is before October, before Christmas, so the impact of the depreciation of the renminbi on the subsequent textile trade will not be seen until next spring festival.

However, the possibility that the factor will increase the sales volume of domestic textile machinery market is not very big.

Overall, the direct depreciation of the depreciation of the RMB on the textile machinery market is limited, and its indirect impact has not yet emerged.

"Made in China depends on exchange rate reduction to achieve sustainable development, and enterprises want to increase sales volume only to practice hard work."

Xu Changyuan said.