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Tolerance point of RMB appreciation very low
21 Oct '10
1 min read
The US House of Representatives has recently passed a bill. Under this act, the Department of Commerce has the right to regard the so-called "currency undervaluation" by other countries as export subsidies.
Under certain conditions, the act permits to impose countervailing duties. Although there remain variables for the bill to eventually become a law and create an impact, the pressure on currency appreciation during the period is enough to arouse attention and vigilance.
Some surveys reveal that, export enterprises in China hold a tolerance limit of the RMB appreciating by around two percent in general, while the tolerance point of export enterprises in textile and garment, footwear and other light industries is less than two percent, while their proportion in exports is nearly 44 percent.
Under certain conditions, the act permits to impose countervailing duties. Although there remain variables for the bill to eventually become a law and create an impact, the pressure on currency appreciation during the period is enough to arouse attention and vigilance.
Some surveys reveal that, export enterprises in China hold a tolerance limit of the RMB appreciating by around two percent in general, while the tolerance point of export enterprises in textile and garment, footwear and other light industries is less than two percent, while their proportion in exports is nearly 44 percent.
Fibre2fashion News Desk - India
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