Chinese products export prices rise buyers buy

According to a survey of 385 international buyers by the global Resources globalsources (NASDAQ:GSOL), most of the respondents said they needed to pay higher prices for 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.　　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 noted that the appreciation of the renminbi had led to higher export prices for Chinese products.　　One-third of respondents expect the renminbi to rise to $1 against 6.5 yuan in the next six months, with 29% of respondents expecting a rise in the exchange rate to 1 dollars to 6.43 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 work harder to upgrade and promote their competitiveness and offset the impact of rising product prices by providing better services, improved quality and output." "The measures planned by the respondents to deal with the appreciation of the renminbi and the rising prices of Chinese products include: 24% of buyers will increase retail prices, 22% plan to reduce the number of products purchased each time and delay the placing of orders; 20% per cent of respondents said they would only buy low-end products from China; 17% per cent of the respondents pointed out that　　They will only buy midrange and high-end products from China; 14% per cent of the respondents said they would set the exchange rate for a fixed export price; 9% buyers plan to use the renminbi as the basic currency for trade settlement. 31% of the respondents said they would increase purchases from Vietnam, with over half of them European and American buyers, and 19% from the Middle East.　　Most of them in the procurement of hardware equipment, fashion and accessories, such as consumer goods mainly, there are some United States, plus 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 survey also found that 30% of the respondents planned to increase procurement from Thailand, 24% of which are European and American buyers, the Middle East buyers followed, reaching 22%. The continued volatility of the renminbi against the dollar has made it difficult for most Chinese suppliers to fix export quotations. At present, one way to resolve the exchange rate problem is to abandon the dollar to the renminbi to settle, but the method is progressing slowly.　　While only 17% of the respondents said they were trading with Chinese suppliers in renminbi, nearly 39% of the respondents said they would be willing to settle in renminbi in the future. Switch to RMB knotThe main reason for the slow progress is that the renminbi is still not fully circulating in the international market, with 48% of respondents saying the renminbi is not circulating or widely used in other countries. The research was conducted in December 2010, global resource market analyst visited 385 buyers of Chinese-made electronic products, household goods, 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, Central and South America and Asia.