How Can Export-Oriented Shoe Enterprises Get Rid Of The Dilemma Of RMB Appreciation

On June 19, the spokesman of the People's Bank of China issued a statement saying that it would "further promote the reform of the RMB exchange rate formation mechanism and enhance the flexibility of the RMB exchange rate". On June 22, the Central Bank authorized the China Foreign Exchange Trading Center to announce that the central parity rate of the US dollar against the RMB exchange rate in the foreign exchange market was 6.7980, breaking the 6.80 threshold and hitting a new high since the exchange rate reform in July 2005. With the further promotion of the new round of exchange rate reform, the RMB is likely to appreciate further in the future. Export shoe enterprises may be in trouble again due to the RMB exchange rate reform.

　　 RMB appreciation When, export type Shoe enterprise It will suffer the exchange loss when the export income is converted into RMB, as well as the loss caused by the decrease of export volume. When the RMB appreciates, on the one hand, the price of export products in foreign markets increases and the sales volume decreases. For goods with low export price elasticity, export income will increase, but for goods with high export price elasticity, export income will decrease. On the other hand, the foreign exchange income gained from export needs to be converted into RMB, and the appreciation of RMB will bring exchange loss of export income. The income of goods with high export price elasticity decreases more, while the income of goods with low export price elasticity decreases less. In short, export-oriented shoe enterprises may suffer losses in the appreciation of RMB.

Well, export Shoe enterprise How can we get out of the predicament?

Increase product R&D efforts and seek competitive advantages through differentiation

The constant accumulation of RMB appreciation since the reform of the exchange rate mechanism in 2005 and the complex and volatile international and domestic economic situation since 2008 have put a lot of pressure on all export enterprises. In this regard, shoe enterprises should actively plan countermeasures to form their own unique export competitive advantages by developing differentiated products. By increasing the development of new products to improve the technical content and added value of products, they have formed their own characteristics of export products. Therefore, enterprises have strong bargaining power and can transfer the pressure of rising costs to foreign customers, thus improving the affordability of export enterprises.

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Pay attention to scientific and technological innovation and improve the core competitiveness of shoe enterprises

On the basis of adhering to independent innovation, shoe enterprises should also focus on introducing advanced technology and equipment from abroad to improve product quality. On the basis of advanced equipment, we have successfully developed new products to reduce the actual cost and environmental cost of products in production and application. The importance attached by shoe enterprises to scientific and technological innovation can ensure the implementation and implementation of the strategic plan to enhance the added value of products and enhance the technological content of products, ensure the continuous improvement of the competitiveness of enterprises' export products, and ensure the continuous improvement of enterprises' ability to cope with exchange rate risks.

Focus on brand channel construction and establish a good export image

In the face of the fierce competitive market environment and the demand for its own sustainable development, firmly promoting the construction of brand channels and establishing a good export image is one of the effective measures for shoe enterprises to improve their export affordability against various adverse effects. Honorary titles such as "National Inspection free Product", "China Famous Brand Product", AAA Credit can establish a good image for shoe enterprises to export, and form a certain brand awareness and competitive advantage.

along with RMB appreciation With the acceleration of pace and the accumulation of appreciation, the affordability of export-oriented shoe enterprises is declining. Dealing with exchange rate risk has become an important issue affecting the survival of export-oriented shoe enterprises. Although on August 1, 2008, as one of the measures to support some export enterprises to overcome difficulties, the Ministry of Finance and the State Administration of Taxation issued a notice to increase the export tax rebate rate of some textiles and clothing from 11% to 13%. Moreover, the market also generally expects that the pace of RMB appreciation will slow down in the second half of the year. However, in the longer term, the trend of continued appreciation of RMB will still be inevitable, and export enterprises will still face the negative impact of exchange rate appreciation in the long term.

Therefore, for exit For shoe enterprises with high trade dependence, the impact of RMB appreciation on them must be a process of reshuffle. Some weak shoe enterprises that only rely on scale expansion and simple labor advantages may be eliminated in the fierce market competition. Therefore, export-oriented shoe enterprises should have sufficient psychological preparation in the face of RMB exchange rate reform, and should actively take various measures to actively respond to changes in the RMB exchange rate and avoid exchange rate risks.