Guangdong RMB appreciation of 3% or disappearing

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Guangdong Foreign Economic and Trade Office in the latest round of research, said: impact of external factors, the biggest export of RMB appreciation.
In the report, , 3% appreciation of the yuan could then erase the textile industry average profit; such as the construction ceramics industry, RMB appreciation of 3%, 3% -5% on the cost.
7 14, the appreciation of the RMB against the U.S. dollar for the year climbed 7 percent official.

Annual general trade exchange or loss of 50 billion yuan
According to preliminary Customs statistics show that in the first half Guangdong import and export value $ 324.51 billion, an increase of only 13.3%, with 22.7% growth rate over the same period last year, down 9.4%.
According to Customs statistics, Guangdong Branch, January to May this year, Guangdong exported 43.26 billion U.S. dollars of general trade, up 13.8% year on year growth rate down 25.9 percentage points; processing trade exports $ 101.187 billion, an increase of 13.9% , higher than the same period last year,cloth headbands, down 5.7 percentage points.
View of the general trade export growth has substantially narrowed, the report notes, frequent changes in exchange rates, the cost is difficult to control, pass through price increases the cost of space getting smaller and smaller, a direct result of the export exchange earnings drop, companies do not want to export, not export .
2007 in Guangdong Province in general trade exports 105.01 billion U.S. dollars, preliminary estimates, 2007 of RMB appreciation on the exports of general trade, Guangdong Province, loss of 19.52 billion yuan (by 85% in U.S. dollars, export volume was 96%, the RMB against the U.S. dollar appreciation of 6.12% and quarterly basis). RMB against the U.S. dollar by 10%, 15% of general trade export growth is estimated that in 2008 Guangdong general trade exports will result in loss of 52.45 billion yuan.
An official involved in research, since March this year, by the Guangdong Provincial Government and the Foreign Trade Department team has traveled the composition of the research Guangdong cities to ensure that the beginning of export and import growth of 10% set target.
percent; even the largest share of trade has still maintained a large increase in the export of electromechanical products, the processing trade accounted for 80% growth rate in the decline is unquestionable.
Report pointed out that a considerable number of export enterprises in the revaluation process, have suffered varying degrees of loss embodied in the Converter, the company reported last quarter, prices are still executed to export volume, the far receivable from the original price of foreign exchange rates. continued to rise against the dollar and market expectations of further yuan appreciation, foreign trade enterprises to exchange risks.
The same time,personalized caps, foreign trade companies to export from the contract, receipt time span, the RMB appreciation is expected to uncertain impact of foreign trade enterprises export orders signed by most of the current short-term,promotional clothing, small order, not entered into large long-term orders, to avoid the potential loss of RMB appreciation.
To be self-innovation
At the same time, Guangdong Province, the first five months of this year marked decline in foreign investment, contracted foreign investment of which $ 13,724,980,000, an increase of 12.6%, down 20.2 percentage points. including foreign direct investment fell 24 percent, foreign-funded enterprises fell 38.5 percentage points.
Guangdong province for the country's first trade, the country's foreign trade share of 1 / 4. According to the Guangdong Provincial Bureau of Statistics, 2007, Guangdong's foreign trade surplus accounted for the local GDP, up 23.06%, while the proportion of GDP increment of 70%.
According to statistics, only a processing trade in Guangdong Province involved in the direct and indirect exports amounting to 150 billion dollars and more than 11 million jobs.
Report, labor-intensive enterprises and small and medium enterprises in independent innovation capability has not yet set up the system before the appreciation of the yuan, the export enterprises of Guangdong Province, a severe test of sustainable development, the export of labor-intensive enterprises and small and medium business impact, a direct result of the survival of these enterprises and employment reduction.

Guangdong Foreign Economic and Trade Office official said: BR>