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Shishi Export-Oriented Shoes And Clothing Enterprises Change Their Way Of Settlement

2010/6/26 11:54:00 45

On Monday, the central bank announced further progress.

Foreign exchange reform

On the first trading day, Shishi's export-oriented enterprises took note of the news and immediately urged international trade clients to settle accounts and convert their dollars into Renminbi.

And shortening the settlement time is an important task for Shishi export-oriented enterprises.

Shishi, a business owner told reporters that recently due to their timely conversion, to avoid 3% of the exchange losses.

On Tuesday, the process of RMB internationalization has taken a big step forward, and RMB settlement has been extended to all countries and regions.

At the height of the international financial crisis, many countries' currencies have depreciated sharply against the US dollar. Shishi enterprises have been used to settle accounts in US dollars.

Now, the US dollar also starts to depreciate the trend, looks like, uses the renminbi as the settlement currency is the most insurance.

Some enterprises in Shishi are consulting with international traders. They hope to use RMB as settlement currency in the future.

Shishi export-oriented enterprises told reporters that international traders are more positive about using Renminbi as currency of settlement, and think that this proposal can be considered. But for practical operability, they also face new problems, and worry that there will be two way huge fluctuations in exchange rate.

The frequent fluctuation of exchange rate is one of the important factors that restrict the export of Shishi textile and clothing.

According to the analysis,

RMB exchange rate reform

It will help to reduce the risk of export and benefit the maturity of Shishi textile and garment industry, because only by improving the added value of products, winning the pricing power and taking the road of product differentiation, can Shishi enterprises go further on the road of export.