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: 永兴县| 玛纳斯县| 长治县| 许昌市| 江都市| 延长县| 博爱县| 宁陕县| 迭部县| 晋城| 西盟| 宝兴县| 仪陇县| 永春县| 古田县| 肃南| 望江县| 兴化市| 盈江县| 景东| 伊金霍洛旗| 团风县| 韩城市| 页游| 泽库县| 民勤县| 五大连池市| 繁峙县| 临邑县| 松原市| 江川县| 莱州市| 麦盖提县| 蓝田县| 稷山县| 丰台区| 平阳县| 古田县| 厦门市| 闸北区| 湘阴县| 南城县| 鲜城| 崇左市| 壶关县| 龙山县| 囊谦县| 福海县| 吉安县| 伽师县| 宁晋县| 于田县| 通化县| 凤凰县| 石棉县| 宁城县| 迁西县| 克拉玛依市| 利川市| 宿迁市| 佛坪县| 海盐县| 靖远县| 洛宁县| 通州区| 海晏县| 安国市| 漳浦县| 从江县| 宁乡县| 叶城县| 新蔡县| 民勤县| 中超| 隆化县| 正镶白旗| 桂平市| 美姑县| 阳泉市| 长武县| 连江县| 武山县|