How to cope with the export risks brought about by

2022-07-25
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How to deal with the export risks brought about by the new changes in international finance

how to deal with the export risks brought about by the new changes in international finance

China Construction Machinery Information

Guide: Recently, under the influence of the financial turmoil on Wall Street in the United States, the central banks of major economies such as the United States, Europe and Japan have successively injected capital into the financial system, and countries are trying to take measures to prevent economic weakness. In the context of economic globalization, China's economy is increasingly closely linked with the world. As exports have been the main source of China's economic growth

recently, under the influence of the financial turmoil on Wall Street in the United States, 3. Temperature rise preventer: to protect the test object and experimental box, the central banks of major economies such as the United States, Europe and Japan have successively injected capital into the financial system, and countries are trying to take measures to prevent economic weakness. In the context of economic globalization, China's economy is increasingly linked with the world. As exports have always been an important driving force for China's economic growth, international financial changes have a far-reaching impact on China's exports

at present and for some time to come, China's exports are mainly faced with two risks: one is the risk that China's foreign demand will continue to weaken under the risk that the financial crisis may spread to the real economy, and the other is the risk that exchange rate fluctuations will intensify

the uncertain factors facing China's exports have increased.

since the outbreak of the subprime mortgage crisis, the slowdown in external demand has become one of the reasons affecting China's exports. In particular, since this year, there has been an obvious slowdown in world economic growth. The demand of the main export destinations, Europe, the United States and Japan, has declined to varying degrees, affecting the export of enterprises. According to a previous survey by the people's Bank of China, more than half of enterprises believe that changes in international market demand are the most important factor affecting their exports

in the first eight months of this year, China's exports reached US $937.69 billion, an increase of 22.4%, and the growth rate slowed down. The cumulative trade surplus reached US $151.99 billion, a decrease of 6.2% over the same period last year, a net decrease of US $10.08 billion

however, since the problems in the US economy were limited to the financial and real estate industries, the external demand was mainly indirectly affected. However, the recent financial turmoil in the United States has intensified people's concern that the recession has spread to the real economy, and the uncertainties faced by China's exports have increased

"we should fully consider and pay close attention to the possible further impact of the financial storm on the US economy. If the US economy weakens, it will lead to the weakening of the world economy to a certain extent. Therefore, we should pay attention to the inhibitory effect of the weakening of the US economy on China's exports." Zhangliqun, researcher of the macroeconomic Department of the development research center of the State Council, commented

in view of the current international economic environment, the weakening of external demand may not end in the short term. Zhuangjian, a senior economist at the China Representative Office of the Asian Development Bank, predicts that the weakening of foreign demand will continue to affect China's export industry next year

strive to expand domestic demand and promote healthy economic development

since the beginning of this year, China has taken some measures in terms of fiscal policy in the face of the impact on the export industry caused by the weakening of foreign demand and the accelerated appreciation of the RMB against the US dollar in the early stage. The Ministry of Finance and the State Administration of Taxation announced that the export tax rebate rate of some textiles, clothing and other commodities will be adjusted from August 1, which is also the first callback since China lowered the export tax rebate rate of enterprises in 2006

experts believe that if the external demand is further weakened in the future, the fiscal policy may continue to play its role in supporting the improvement of the weak parts of the economy, and promote the healthy development of small and medium-sized enterprises through tax reduction and other measures

consumption, investment and export are the troika driving economic growth. With the increase of uncertain factors in the international economic environment, Zhuang Jian pointed out that we usually recommend the single arm digital display model for this equipment. China should strive to offset the impact of weakening external demand by expanding domestic demand

since this year, China has entered the best period of consumption growth since the Asian financial crisis. According to the figures released by the National Bureau of statistics on September 12, the total retail sales of consumer goods in August reached 876.8 billion yuan, an increase of 23.2% year-on-year. Compared with the same period last year, this growth rate accelerated by 6.1 percentage points

however, it should be noted that from the data of the first half of the year, after deducting price factors, the real growth rate of per capita disposable income of urban residents and per capita cash income of rural residents has slowed down, while the downturn in the stock market and real estate market has led to a decline in the wealth effect. These factors have an adverse impact on the sustained and rapid growth of consumption in the future. In this regard, experts believe that it is time to find ways to support the sustained growth of consumption from the perspective of mechanism and policy

enterprises should take active measures to deal with exchange rate fluctuations

in addition to reducing the risk of external demand, since this year, an outstanding problem faced by export enterprises is the risk of exchange rate fluctuations. Since this year, China's RMB has experienced a period of rapid appreciation against the US dollar, and then staged a more rapid appreciation against the euro and sterling

in the first half of this year, the appreciation rate of RMB against the US dollar was significantly accelerated. As the US dollar is the most important settlement currency for China's export enterprises, and most enterprises have weak export bargaining power, the accelerated appreciation of RMB against the US dollar has reduced enterprise profits. In order to cope with this risk, many export enterprises that used to settle in US dollars have changed to settle in euros

however, in the second half of the year, since the strength of the US dollar made the RMB enter a two-way fluctuation period against the US dollar, the appreciation rate of the RMB against the euro and sterling has significantly accelerated. On September 2, the RMB broke the 1:10 integer barrier against the euro for the first time this year. On August 14 and September 11, the RMB broke the 1:13 And 1:12 integer barrier against the pound, which put a lot of pressure on enterprises settled in euros and pounds

an entrepreneur said in an interview that compared with the stable expectation of RMB appreciation, the uncertainty of RMB exchange rate has a greater impact on enterprises. Because many orders are delivered months or even years later, the uncertainty of the exchange rate makes the pricing disputes between the import and export sides very great, and the uncertainty of the future income also has an uncertain impact on the operation of the enterprise

under the background of the increased risk of exchange rate fluctuations, the demand for financial hedging of enterprises has increased. Experts believe that financial institutions need to increase foreign exchange derivatives, provide more financial products, extend the term of long-term foreign exchange settlement and sales, and provide high-quality information consulting and financial advisory services for enterprises, so as to effectively avoid exchange rate risks for export enterprises

from the enterprise level, it is also necessary to take active measures to actively respond. By accelerating technological innovation and improving the use of product technology extrusion units, the auxiliary equipment used for their selection is also different in technological content and added value, so as to expand profit space and enhance international competitiveness; Maintain the price of export products through negotiation; Improve brand influence or create independent brands. In addition, the splitting of long-term orders and the writing of exchange rate floating clauses into contracts can help enterprises actively and effectively avoid exchange rate risks

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