China's export price rises some international buyers India Vietnam sourcing

Shanghai, January 24 (Xinhua) A survey of 385 international buyers released today by Kai, a majority of respondents, said they needed to pay higher prices to buy Chinese products.　　As China's export prices continue to rise, compared to other low-cost supply markets, China's low-end products are most significantly affected. According to the survey, 68% of the respondents pointed out that the appreciation of the renminbi had an impact on its procurement strategy from China, of which 54% per cent said that the appreciation of the renminbi had led to higher export prices for Chinese products.　　One-third of the respondents expect the renminbi to rise to $1 against 6.5 yuan in the next 6 months, with 29% of those surveyed expecting a rise in the exchange rate to 1 dollars to 6.43 trillion yuan. In response to the yuan's strong appreciation, 54% of the respondents planned to increase purchases from other countries, 57% of which said India would be one of their main options.　　However, buyers still have a certain dependence on Chinese exporters for specific specifications and demand for rapid delivery. Peike, President of global Resources Business affairs, said: "As Chinese product prices rise, Chinese exporters must make greater efforts to upgrade and promote their competitiveness, and by providing better service, quality and higher production to offset the impact of rising product prices." "Research shows that the measures planned by the respondents to deal with the appreciation of the renminbi and the rise in Chinese product prices include: 24% of buyers will increase retail prices, 22% of buyers plan to reduce the number of products purchased each time and delay the order time; 20% of buyers only buy low-end products from China; 17% of the respondents said　　, they will only buy midrange and high-end products from China; 14% of buyers will set the exchange rate for fixed export quotations; 9% of buyers plan to use the renminbi as the basic currency for trade settlement. According to the data, 31% of the respondents said they would increase purchases from Vietnam, with over half of them European and American buyers, and another 19% from the Middle East. Most of them in the procurement of hardware equipment, fashion and accessories such as consumer goods mainly, but also some buyers purchase personal consumer electronics.　　In addition, since Vietnam's clothing products are generally cheaper than China's 30%, Chinese garment exporters have felt the purchase of overseas buyers transfer, which is the most serious impact of the leisure apparel industry.　　The study also found that 30% of the respondents planned to increase purchases from Thailand, 24% of them European and American buyers, followed by Middle East buyers to 22%. According to the introduction, the survey was conducted in December 2010 and global resource market analysts visited 385 buyers of Chinese-made electronic products, household items, gifts and gifts, garments and textiles and hardware products, most of the respondents from China's major export markets, including Europe and the United States, the rest from the Middle East, Latin America and Asia.