On November 17, the China Foreign Exchange Trading Center announced that the central parity of the RMB exchange rate was 6.8692, depreciated by 100 basis points, falling for ten consecutive trading days, and the accumulated depreciation exceeded 1200 basis points. The data set a new low since August 2008. On November 17, the China Foreign Exchange Trading Center announced that the central parity of the RMB exchange rate was 6.8692, depreciated by 100 basis points, falling for ten consecutive trading days, and the accumulated depreciation exceeded 1200 basis points. The data set a new low since August 2008. On November 16, the central parity of the RMB against the US dollar fell again by nearly a hundred basis points, falling below the 6.85 mark. It is reported that in the first trading day of October, the central parity of the RMB against the US dollar broke through the 6.7 mark. In October, the RMB depreciated against the US dollar by 1.5%. On November 11, the central parity of the RMB against the US dollar further broke the integer position of 6.8. Analysts said that the continued slow depreciation of the RMB against the US dollar may be due to the recent turmoil in the international financial market, and the uncertainty of US policy has led to fluctuations in the US dollar and market risk aversion. On the whole, the RMB exchange rate against the US dollar will not face long-term depreciation pressure. Analysts further stated that the short-term exchange rate of the RMB is mainly determined by the international foreign exchange market, but it is impossible to determine when it can be adjusted. At present, the RMB exchange rate pricing mechanism is still in a transitional state and will not last. In the future, the clean and floating RMB exchange rate will be realized, that is, the exchange rate system in which market supply and demand play a decisive role. Recently, the economic data released by the National Bureau of Statistics further indicates that the Chinese economy is stabilizing and recovering. Mao Shengyong, spokesperson for the National Bureau of Statistics, said that there should be no problem in achieving the 6.5% growth target during the year. After the adjustment of the 811 RMB median price mechanism, the RMB exchange rate fluctuations became more normal. Corporate view RMB depreciation is good for exports. Wu Yulin, general manager of Kaixiou The main role of RMB exchange rate changes is to influence imports and exports. When the RMB depreciates, it is more beneficial to enterprises. In my opinion, the RMB depreciation is too fast in the past year or two, which may be beneficial to lighting companies that are exporting. However, the depreciation of the renminbi has certain effects on imports. For example, in the import of raw materials, since most of the domestic raw materials are imported, such as copper, iron, aluminum, aluminum alloy, stainless steel, rubber and other popular materials, the price of the products may be affected. However, at present, the company is still able to achieve self-regulation, and this has not been very important for the focus on the domestic market. In addition, if the renminbi appreciates in the future, the exporting company can also sign a contract with the bank to lock in the exchange rate, especially for relatively fixed orders. When the exchange rate changes, it can negotiate with the bank to avoid risks. There are not many export enterprises that have made substantial price adjustments. Li Wenying, manager of the foreign trade department of Huari Lighting. For the sake of enterprises, the impact of RMB depreciation on foreign sales business is not great. Of course, because the RMB exchange rate has fallen below 10 points, it will have an impact on the prices of other countries' products. In particular, the exchange rate in the region is unstable, the local currency depreciates more against the US dollar, and the local demand for lowering the price will be even greater. From the perspective of the company, some customers will adjust the price as appropriate because of long-term cooperation, strong stability, or large order quantity. At present, there are not many export enterprises that have undergone substantial price adjustments in the lighting industry. Although the export business will be affected by exchange rate fluctuations, if the lighting companies take effective measures to deal with them, the impact will not be great. For example, Huari Lighting, one will have a deadline when quoting, usually 35 months. The second is to conduct a large number of detailed on-the-spot investigations on the market at the end of the year, and conduct pre-judgment according to market trends, communicate and negotiate with customers to ensure common interests. Market Analysis The RMB exchange rate has changed too fast or affected the lighting industry. I. Some export enterprises benefited. There are three types of lighting companies that will benefit: 1. Recently, overseas orders have taken effect. Overseas projects are generally denominated in US dollars. Some purchases are denominated in RMB. Renminbi depreciation increases overall gross profit margin, and the company has some US dollar assets. Foreign exchange gains will increase its net profit. 2. Some engineering or service enterprises with overseas operations will benefit from the exchange gains brought about by the depreciation of the RMB; 3. At the time of continuous depreciation of the RMB, domestic enterprises with a large proportion of exports to the United States, Japan, and the European Union will Significantly benefit from the sales growth caused by the reduction in product prices in the importing countries, these companies are mainly concentrated in the textile and apparel, home appliances, chemical and other industries. Second, housing prices will face a decline, further curbing real estate fever. One of the reasons for the surge in housing prices in the past few years is the appreciation of the renminbi. In this process of appreciation, the people who own the property, the rapid appreciation of assets, and the expectation of property appreciation have stimulated the desire of more people to buy a house. Therefore, the depreciation of the renminbi may reduce the enthusiasm of consumers to buy a house and cool down the real estate industry.
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