日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

   

China exporters suffer as currency rises

(AP)
Updated: 2007-01-15 11:04

A man counts 100 yuan banknotes in Beijing. China's currency has hit a record post-revaluation high a day after Beijing announced a walloping rise in the country's full-year trade surplus.[AFP]
A man counts 100 yuan banknotes in Beijing. Chinese companies that supply U.S. retailers with billions of dollars worth of toys, furniture and other goods every year face a painful squeeze as the yuan rises.[AFP]

BEIJING - Dependent on exports to the United States, the Hebei Lihua Hat Co. saw its profits wiped out as China's currency rose steadily against the US dollar over the past year.

Hebei Lihua, which sold 90 percent of its 4 million hats to overseas markets last year, fought back by pushing its 1,800 workers to cut waste and find cheaper raw materials. It tried to boost revenues by introducing a new waterproof hat.

Yet even those efforts might be inadequate, said Wang Zhenhao, the business manager for Hebei Lihua, located in Baoding, a city southwest of Beijing.

"If the appreciation continues, we will probably lose money," Wang said.

Chinese companies that supply U.S. retailers with billions of dollars worth of toys, furniture and other goods every year face a painful squeeze as the yuan rises, setting off a race to cut costs or find new products that Americans will pay more for.

Beijing has let the yuan creep up by 6 percent against the dollar since July 2005, easing currency controls as part of long-term efforts to defuse strains caused by a multibillion-dollar influx of export revenues and investment. The yuan most recently was trading at about 7.81 to the dollar.

Washington is pressing Beijing to let the yuan, also known as the renminbi, rise faster. It says the yuan is undervalued, giving Chinese exporters an unfair price advantage and widening the U.S. trade deficit with China.

The United States says its trade gap with China for the first 11 months of 2006 reached an all-time high of US$213.5 billion, surpassing the full-year record of $202 billion set the previous year.

The yuan's rise is small compared with swings in the yen and the euro against the dollar in recent years. But it is jarring for Chinese exporters, whose profit margins are thin and whose only competitive edge is low prices. Unlike Japanese or European companies, they lack technology and brand names that might keep American customers loyal even as prices rise.

"We do not welcome the renminbi revaluation. It will increase China's export cost and diminish our competitive strength," said Zhao Hong, a spokesman for the China Textile Association, an industry group.

Zhao said the group wants members to invest in developing profitable brands by improving quality.
123  


Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours
主站蜘蛛池模板: 麻豆精品在线视频 | 一呦二呦三呦精品网站 | 青青草精品在线 | 青青操网 | 亚洲日本中文字幕在线 | 日韩精美视频 | 在线成人亚洲 | 五月天综合久久 | 日日碰狠狠添天天爽 | av国产精品 | 精品国产18久久久久久 | 欧美专区第一页 | 哥布林的洞窟在线观看 | 欧美激情视频一区二区 | 懂色av一区二区三区 | 山村性事乱淫1一7 | 亚洲大尺度视频 | 黄页在线免费看 | 青青国产在线 | 色综合天天综合网国产成人网 | 亚洲成人精品在线观看 | 免费成人高清视频 | 欧美激情久久久久久久 | 啪啪激情网| 国产精久久 | jizz国产精品 | 国产高清成人久久 | 日韩免费看片 | 国产精品久久久久精 | 超碰人人人人 | jizz18女人高潮 | 超碰97av在线 | 国产一级在线视频 | 国产三级av在线播放 | av资源在线免费观看 | 久久高清| av免费网站在线观看 | 国产成人精品一区二 | 欧美精品一区二区三区视频 | 欧美在线中文 | 国产精品自拍第一页 |