Six suppliers expect renminbi appreciation to cause overseas orders to fall

(Reporter suntingting) appreciation of the renminbi is causing exporters ' concern about the fall in overseas orders. A survey by the Global resources Autumn Sourcing Fair in Hong Kong revealed that 60% of respondents said exchange rate movements would lead to a fall in export orders, with 8% per cent noting that a revaluation would seriously affect their business.　　In response to the impact of such exchange rate changes, there are already suppliers to increase export prices. The survey of 239 companies are telecommunications, home, fashion accessories, clothing, fabrics, hardware, sports and security products suppliers, nearly half of the companies surveyed in Guangdong, 24% from Zhejiang, 14% from Fujian. Among them, 60% of the respondents pointed out that exchange rate changes will lead to the decline in export orders.　　More than three per cent of the respondents said they expected the renminbi to rise by 2% or more, their exports would begin to decline, while 32% per cent of those surveyed pointed out that a 3% rise would only lead to a fall in exports. Foreign trade experts, the President of the Global Resources exhibition Huang Tanwei introduced, in order to deal with the risk of exchange rate changes, some suppliers will enhance the export price to offset the impact of the appreciation of the renminbi, A few suppliers have started to use 1 U.S. dollars to 6.6 yuan exchange rate for export quotes, and the current exchange rate is 1 U.S. dollars to about 6.68 yuan.　　In the survey, 3% of the companies plan to use the renminbi as the basic currency of trade trading. European and American economies recede, raw material prices rise, labor costs rise sharply, the renminbi appreciates ...　　How to deal with the more and more complicated situation of foreign trade becomes a problem that many Chinese export enterprises must consider. Huang Tanwei that although the European and American economies have suffered a great impact, but Wal-Mart's first three quarters of retail sales also increased by 2%, indicating that the daily consumer goods did not fall, the biggest impact should be durable goods and low cost products. Growth in emerging markets has outpaced the decline in the US and European markets.　　In this case, the exporter should learn to do two markets at the same time, in the development of foreign trade market, but also to gradually develop the domestic market. The reporter found that the survey, 30% of the respondents will focus on the development of domestic trade market to deal with the current export situation.