Home / Knowledge / News / Textiles / RMB revaluation deeply worries exporters
RMB revaluation deeply worries exporters
07
Jul '10
It is learnt that since the reform of formation mechanism of RMB exchange rate in July 2005, the Yuan has made small appreciation in the period till date.

This year, the central parity of exchange rate of the RMB against the US dollar has basically ranged between 6.826 to 6.828 Yuan.

On June 22, the second day after the resumption of the reform by the central bank, the central parity of RMB against the US dollar was 6.7980.

The industries being affected by the appreciation of the RMB include labor-intensive industries, such as home appliances, electrical, automotive, steel, textiles and clothing.

The industry estimates that textile and garment industry will face the biggest impact, 90 percent of the companies in the industry will be subject to significant impact, once the RMB revaluates.

Experts estimate that at least more than 25 million workers will face employment crisis in textile and garment industry.

According to industry sources, annual cumulative appreciation of the Yuan against the US dollar may range between 4 to 5 percent.

Export-oriented textile enterprises complain that it is not the right time for Yuan appreciation, the industry has not yet recovered from the financial crisis, export products will have no profit with Yuan appreciation again and they will have to increase product prices.

Experts estimate that China's export-oriented small and medium textile enterprises may become zero profit companies, if the RMB appreciates by more than 3 percent against the US dollar.

Fibre2fashion News Desk - China


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search