RMB Appreciation Of 1% Or 1 Million 520 Thousand Unemployed

With the recent high exchange rate, the pressure of external oriented manufacturing enterprises is increasing. Renminbi Constant appreciation Will seriously affect the export of enterprises, and squeezing the profits of enterprises. At the same time, because of the labor-intensive characteristics of these enterprises, a large number of manufacturing workers are facing. Unemployment crisis 。

There are people in the manufacturing industry who say that the profits of the former manufacturing industry are relatively low, and that the continuous appreciation of the renminbi has made the profit margins constantly squeezed. Although the RMB has been showing a trend of appreciation, the relevant enterprises have adopted some hedging tools related to exchange rate risk, but now it is not enough to resist the losses caused by the rapid appreciation of the RMB.

A few days ago, Yuan Xiaoming, director of the financial affairs department of the Ministry of Commerce, said that in 2010, our country Export enterprises The average profit margin was 1.47%, lower than the average profit level of industrial enterprises, and the export profit margin of enterprises decreased to 1.44% from 1 to February in 2011. Sun Huayu, director of China International Monetary Research Center of the University of foreign trade and economics, said that according to her research, RMB appreciation of 1% will cause 1 million 528 thousand and 400 people to lose their jobs. Among them, the textile industry will reduce employment by 388 thousand and 600 people, the iron and steel industry will reduce 599 thousand and 900 jobs, the household appliances and toys industry will reduce 17 thousand and 200 jobs, and the electromechanical industry will reduce 527 thousand and 200 people.