男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影
   

Chinese exporters adapt to the rising yuan

(Xinhua)
Updated: 2007-10-07 10:53

Looking at China's snowballing trade surplus since its exchange rate reform in July 2005, one might think the appreciation of the Chinese currency yuan, also known as renminbi (RMB), had gone largely unnoticed by the country's exporters.

Yin Mingshan, chairman of the Chongqing Lifan Group, China's largest private motorcycle manufacturer, noticed that pressure from the rising yuan never ceases to ease up. "The impact is tangible and costly," he says.

The self-made entrepreneur who started from scratch 15 years ago earned 78 million yuan less from exports worth US$318 million after the RMB rose by 4 percent against the US dollar at the end of last year.

Related readings:
August trade surplus reaches US$24.97b
Sizeable trade surplus to remain some time
China to push forward exchange rate reform step by step
RMB exchange rate against US dollar hits new high

By August this year when the RMB had gained more than 9 percent accumulatively to reach 7.57 yuan to US$1, five of the company's smaller Chinese rivals had folded.

Lifan foresees motorcycle exports slowing from last year's 30 percent rise to 25.5 percent this year.

Instead of complaining as the RMB strengthens, however, many Chinese enterprises, including Lifan, rise to the challenge and seek to check exchange rate risks through all available means, such as cost efficiencies and technological innovation.

China's exports have grown to US$546.7 billion in the first half of this year, a rise of 27.6 percent from the same period last year, bringing the aggregate surplus to US$112.5 billion, up 83 percent.

"We should give credit to our exporters, who bear the brunt of China's exchange rate reform as a stronger yuan squeezes their profitability and dampens their competitiveness in world markets," says Tan Yaling, a research analyst with the Bank of China.

China scrapped the yuan peg to the US dollar and linked it to a basket of currencies in July 2005 so as to allow the currency to float in line with market changes. But a daily floating band was imposed to ensure only a gradual appreciation. This encourages exporters to become more competitive through quality, brand reputation and technology.

"If the RMB had gained 20 percent overnight, a legion of Chinese enterprises would have gone bust. Now we have time to adapt, upgrade our production and get stronger," Yin says.

Yin's company has registered 3,807 patents at home and abroad, the most among all domestic automobile companies. Its flagship product, the Lifan 50-200ml Single Cylinder Gasoline Engine, and motorcycles were sold to more than 100 countries in South-East Asia, West Asia, Europe, Africa, and South America. It has also begun producing sedans.

The sense of the urgent need for changes is prevalent among China's exporters, especially in such traditional sectors as textile.


(For more biz stories, please visit Industry Updates)

      1   2   3     


Related Stories  
主站蜘蛛池模板: 鹤峰县| 潮州市| 灵宝市| 东丽区| 马边| 武清区| 志丹县| 白朗县| 方山县| 揭东县| 贡山| 黑龙江省| 白玉县| 斗六市| 河间市| 辽中县| 泰来县| 姚安县| 紫金县| 利辛县| 喀喇| 嘉善县| 鄂托克旗| 甘洛县| 新巴尔虎左旗| 静宁县| 松滋市| 丰宁| 盐山县| 出国| 宁强县| 古蔺县| 南召县| 宿松县| 天津市| 津南区| 通榆县| 巴青县| 那曲县| 本溪市| 孝感市| 霍山县| 威信县| 兴文县| 金川县| 拉萨市| 鄯善县| 鄄城县| 徐闻县| 营口市| 永清县| 团风县| 类乌齐县| 谷城县| 富蕴县| 邓州市| 轮台县| 河源市| 灵宝市| 富裕县| 宜昌市| 云安县| 安乡县| 洛宁县| 太康县| 许昌市| 建阳市| 阳泉市| 卓尼县| 连江县| 巴彦县| 茶陵县| 德阳市| 贡山| 旌德县| 龙川县| 焦作市| 宜良县| 郧西县| 阳新县| 高邮市| 太康县|