Impact of RMB exchange rate changes on foreign trade companies

Relevant information shows that after the exchange rate market reform in July 2015, the exchange rate of RMB experienced three stages: (1) the stage of rapid appreciation (July 2005-July 2008) (2) the stage of slight fluctuations (2008 (July--June 2010) (3) Elastic enhancement phase (June 2010 to present)

Since the exchange rate market reform in July 2005, the volume of imports and exports has continued to rise, but the growth rate of exports has been declining. The export growth rate was 28% in 2005 and 8% in 2012. From a practical point of view, the trend of RMB appreciation has little effect on my country's overall import and export trade. Although it has a certain impact in the short term, the pressure of appreciation has gradually been digested over time. The appreciation of the renminbi has different effects on different types of enterprises, and has a greater impact on my country's labor-intensive products, which weakens the price advantage. For capital and technology-intensive products that require imported raw materials, the appreciation of the renminbi instead reduces product costs and promotes the development of the industry.

On the whole, the appreciation of the renminbi has caused a certain impact on my country's product exports in the short term, compressing profit margins and optimizing my country's export commodity structure in the long run.