Test Chamber of Commerce to issue renminbi denied

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Chamber of Commerce denied the three major stress test report issued RMB - Sohu News
Three Chamber of Commerce denied the report of Guo Liqin Fachu RMB stress test recently, there was news of some labor-intensive industry associations RMB stress test results, if the appreciation of the renminbi in the short term 3%, household appliances, automobiles, mobile phones and other production profits would fall 30 percent to 50%, and low bargaining power of many small and medium enterprises will face a loss. But China CCCME (the "Electrical and Mechanical Association"), China Light Industry Arts & Crafts Import and Export Chamber of Commerce, China Textile Import and Export Chamber of Commerce Dengjun to the "First Financial Daily" journalists denied reports issued by them there. Ministry of Commerce spokesman Yao Jian also said that the Ministry of Commerce did not lead such a test. Fear of appreciation of the butterfly effect business yesterday, Electrical and Mechanical Association of stakeholders on the newspaper reporters that the Chinese Electrical Company is facing significant operational difficulties, Electrical and Mechanical Association over recent foreign trade situation of member companies recently conducted in-depth investigation and feedback from the business perspective , business environment is more severe than the 2009 complex, more difficult, the most prominent general rise in wage costs employees, such as the auto parts business and employment costs increased by 25% -30%, due to mechanical and electrical business operating costs in its labor costs to gain more large proportion of this will inevitably increase business costs. In addition, factors such as rising raw material prices, operating costs of the enterprise is facing greater pressure. At present, enterprises in general expressed concern about the cost of continued growth. If the yuan appreciation is high, much worse. Shanghai Xiang-Jun Wang, general manager of the top new luggage, told reporters that if the RMB appreciation, his business certainly is not ready. He also pointed out that the industry's profit margins 5% to 10%, if the RMB appreciation, the international buyers to accept price increases in a process, enterprises do not want to see rapid appreciation of the yuan. But when asked whether the RMB appreciation can import raw materials, eliminating the need for substantial expenditure, Xiang-Jun Wang smiled and said, "China's domestic procurement of raw materials is much lower than international market prices, RMB appreciation to lower the cost of raw materials has little effect." Xiang-Jun Wang also said that If the yuan appreciate too rapidly, they will face great pressure to lay off,ed hardy Long sleeve man Tee, when asked about the specific value, he estimated that "about 3% (appreciation of the range),Manolo Blahnik Blue Satin Sandals, we will lay off up." Guangdong Light Industry Import & Export Co.,Herve Leger Textured Tube skirt Pink, Ltd. of Xie Xiaoyu told reporters a large inverted grievances. She said that middlemen like producers, he could control the price of raw materials, adjust the margins, only in the case of very stable exchange rates can forecast profits. For example in 2008 the U.S. dollar against the renminbi exchange rate fluctuations, devaluation of U.S. dollar makes them all the way orders in U.S. dollars losses. "We do not rule out the possibility to export the ECIC insurance to hedge against risk." She said. Zuo Xiaolei: appreciation can prevent hot money? The face of enterprise voice, Galaxy Securities chief economist Zuo Xiaolei said he understood the situation and explained that with the foreign-invested enterprises, "two out" - that is the import of raw materials, re-export to foreign markets, in part, the risk of different hedge revaluation , China's homegrown basic to "an out, an account" - that is, purchase of raw materials in China and export abroad. They basically for processing trade enterprises, faced with a buyer's market,ed hardy women polo, orders are technical specifications required by the buyer to customize the basic is not much room for price increases, so RMB appreciation against the profits of these local businesses will be enormous. As for the appreciation of the RMB against hot money inflows or imported inflationary pressures and questions left Xiaolei continuously ask, "If the appreciation, and hot money into China would not it? L be in place then how many? 5%? 10%? or 20%? "She stressed that the international hot money is most looking forward to volatility, because volatility can take advantage. "In turbulent times,Herve Leger strapless signature bandage mini dress, a stable exchange rate is the most important."

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