Rising yuan: Mix for China's exporters to fix
Updated: 2008-04-19 10:11
But many other companies prefer price increases. Chinese leading home appliance maker Qingdao Haier said it would re-set its prices with overseas sellers once the yuan gained more than 3 percent. The new price would be determined by the specific foreign exchange rate.
Experts say the change of currency clearing system is still not feasible for most exporters as it involves adjustment of export markets and bargain with foreign buyers. Besides, such services in domestic banks are too complicated, they say.
Therefore, some companies are considering financial derivatives as a way out. Shen Zhiming, Zhejiang Cathaya International Co Ltd manager, said his company had bought currency futures for two years. "It is a real learning process for Chinese enterprises, a process for internationalization."
The China Import and Export Fair has two phases, from April 15 to 20 and April 25 to 30. The first phase features textiles, garments, health products, household appliances, tools, small vehicles and hardware.
Food, tea, kitchenware, decorations, toys, sporting goods and office supplies highlights the second phase.
|
||
|
||
|
|
|
|