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RMB depreciation is expected to enhance the performance of foreign trade textile enterprises to meet the good opportunity to improve
Release Date:
2015/01/30
The RMB fell sharply against the US dollar again, and the spot exchange rate of RMB once depreciated by more than 250 basis points, approaching the "limit line" of 2% ". In the end, the spot exchange rate of the renminbi hit its lowest level since December 5 last year. It is understood that since the central bank on March 17 last year, the inter-bank spot foreign exchange market RMB against the U.S. dollar trading price floating range from 1% to 2%,
The RMB fell sharply against the US dollar again, and the spot exchange rate of RMB once depreciated by more than 250 basis points, approaching the "limit line" of 2% ". In the end, the spot exchange rate of the renminbi hit its lowest level since December 5 last year.
It is understood that since the central bank expanded the floating range of RMB against the US dollar in the inter-bank spot foreign exchange market from 1% to 2% on March 17 last year, the spot exchange rate of RMB has always fluctuated slightly within the range of 1%, while the RMB exchange rate has repeatedly touched the red line of 2% fluctuation a few days ago.
Analysts believe that the sharp rise in the US dollar index is the main reason for the decline in the RMB exchange rate. In the international market, the European Central Bank announced last week a monthly bond purchase plan of 60 billion euros for a period of 18 months, that is, the European version of the quantitative easing policy. This move has caused the US dollar index to rise steadily and once exceeded the 95 integer mark.
In addition, the Governor of the Central Bank Zhou Xiaochuan also emphasized at the Davos Forum in Switzerland that the Central Bank of China will not pursue excessive liquidity in the economy, that is, the central bank hopes that monetary policy will remain stable. This remark was interpreted by some people as "the central bank has no intention. Release more liquidity".
Just a few days ago, Pan Gongsheng, deputy governor of the central bank, commented on the European version of the quantitative easing policy. He pointed out that the ECB's QE will help boost the euro zone's economy, increase external demand, and benefit China's exports. The QE policy, coupled with the normalization of the US quantitative easing policy, will further promote the strengthening of the US dollar exchange rate, which may put downward pressure on the RMB exchange rate against the US dollar.
It is understood that in the previous round of RMB appreciation, export-oriented enterprises represented by aviation, paper, shipping, textiles and clothing had experienced large exchange losses. With the continuous depreciation of the RMB against the US dollar, the industry is expected to see a significant improvement in the performance of the aforementioned industries.
At present, Jinfeida's main business is the production, processing and sales of traditional clothing. 90% of its products are sold to the US market. It is one of the largest ODM and OBM manufacturers of medium and high-grade clothing (women's clothing) in the United States. In recent years, the RMB has been in the process of appreciation against the US dollar. In 2013, the appreciation rate reached 3%, which compressed the company's profit space. The continuous depreciation of the RMB will help the company to increase sales and profit growth.
Rebecca is the world's largest professional hair products company. Its products are mainly craft wrists, chemical fiber hair, women's wigs, teaching heads, men's headgear and so on. The products are basically sold to North America, Western Europe, Asia, Africa and other overseas markets. According to the 2014 semi-annual report, the Americas market accounted for 37.41 of the company's total business revenue.
Zhejiang Yongqiang is a large modern enterprise group specializing in the production of outdoor leisure furniture, sun umbrellas, tents and other products. The company has the right to import and export, the products are mainly sold to the United States, Germany and other European and American countries. Among them, North America sales revenue now accounts for 43% of the company's total operating revenue.
Source: Securities Times
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Shandong Codlove Blanket Co.,ltd
Shandong Cheng Qian Home Textile Co., Ltd
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