The impact of RMB appreciation on China's import and export is as follows:

1. Positive impact

1. Expanding domestic consumers' demand for imported products and getting more benefits

The most obvious change brought by RMB appreciation to domestic consumers is that the RMB in their hands is "more valuable", and if they study or travel abroad, they will spend less money than before; In other words, spending the same money will enable you to do more things than before. If you buy imported cars or other imported products, you will find that their prices have become "cheap", so that ordinary people can get more benefits.

2. Reduce the cost burden of imported energy and raw materials

China is a country lacking in resources. With the rising international energy and raw material prices, domestic enterprises are bound to bear an increasingly heavy cost burden. In 24, the average price of refined oil imported from China increased by 3.8% compared with 23, steel increased by 43.7%, copper increased by 5.4%, and iron ore more than doubled.

the rising prices of imported energy and raw materials will not only raise the prices of the whole basic means of production, but also devour the profits of enterprises in the middle and lower reaches of the industrial chain, making their profitability decline or even lose money. If the RMB appreciates to a reasonable level, it will greatly reduce the burden of importing energy and raw materials in China, so that domestic enterprises can reduce their costs and enhance their competitiveness.

3. Make use of the "reverse mechanism" to promote the adjustment of China's industrial structure and improve China's position in the international division of labor

For a long time, China has implemented the export-oriented strategy by relying on the quantitative expansion of cheap labor-intensive products, which has kept the export structure from being optimized for a long time and made China play the role of "wage earners in the world" in the international division of labor.

A proper appreciation of RMB will help export enterprises to improve their technical level and product grade, thus promoting the adjustment of China's industrial structure and improving China's position in the international division of labor.

4. It helps to ease the relationship between China and its major trading partners

In view of the rapid development of China's export trade and the increasing trade surplus, China's major trading partners have repeatedly demanded the appreciation of the RMB. In this regard, simply saying "no" seems inspiring, but it doesn't help. Because this will continue to worsen the relationship between China and them and set obstacles for China's foreign trade and economic development.

In recent years, the sharp increase of anti-dumping cases against China is a very convincing evidence. A proper appreciation of RMB will not only help to ease the relationship between China and its major trading partners and reduce economic and trade disputes, but also establish a good international image of China as a big country.

5. It helps to reduce the threat of "foreign exchange appropriation" to the independence of China's monetary policy

Since the exchange rate was merged in 1994, China's foreign exchange reserves have remained high, which has seriously damaged the independence of China's monetary policy. Therefore, an appropriate appreciation of RMB can be closer to the market exchange rate level and alleviate the adverse effects of foreign exchange appropriation.

second, negative impact

1. It will have an impact on China's export enterprises, especially labor-intensive enterprises

In the international market, the export price of China's products, especially labor-intensive products, is far lower than that of similar products in other countries. The reason is that the labor price in our country is low, and the fierce domestic competition makes export enterprises compete to adopt the strategy of low-price sales at the expense of blood.

once the RMB appreciates, in order to maintain the same RMB price bottom line, the price of China's export products expressed in foreign currency will increase, which will weaken its price competitiveness; If the foreign currency price of export products remains unchanged, it will inevitably squeeze the profit space of export enterprises, which will have an impact on export enterprises, especially labor-intensive enterprises.

2. It is not conducive to China's introduction of foreign direct investment

China is the country that introduces the most foreign direct investment in the world. At present, foreign-funded enterprises are playing an increasingly obvious role in China's industry, agriculture, service industry and other fields, which has a noticeable impact on promoting technological progress, increasing employment and expanding exports, thus promoting the development of the entire national economy.

After the appreciation of RMB, although it will not have a substantial impact on foreign investors who have already invested in China, it will have a negative impact on foreign investors who are about to invest in China, because it will increase their investment costs. In this case, they may shift their investment to other developing countries.

3. The huge foreign exchange reserves will face the threat of shrinking

At present, China's foreign exchange reserves are as high as US$ 2,454.3 billion, ranking first in the world. Adequate foreign exchange reserves are an important symbol of China's growing economic strength and increasing level of opening to the outside world, and also a powerful guarantee for us to promote domestic economic development and participate in foreign economic activities.

Extended information:

Benefits of RMB appreciation

1. Be more free and confident when spending luxury goods

The appreciation of RMB means that China people's wallets are "bulging". Because it is also $1,, it cost about 6,349 yuan to exchange in 212, but now, it can be exchanged for the same amount of dollars with 6,12 yuan. In this way, the consumption power of equivalent RMB has greatly increased when buying luxury goods abroad.

2. Traveling abroad is not so far away

In p>214, about 62, Australian tourists visited China. China has become Australia's second largest tourist source country and the fastest growing and most valuable tourist market. Tourism Australia predicts that more than 9, Australian tourists will visit China in 22. Li Ming, a tourist from Wuhan, said that the more "valuable" RMB is one of the driving forces to stimulate his outbound travel.

3. Reduce the economic pressure of studying abroad.

4. Reduce the cost of imported goods in China

With the rapid economic growth and industrial upgrading, China needs to buy a lot of energy (such as oil and natural gas), raw materials (such as iron ore), advanced equipment and various advanced technologies from abroad every year, and most of these goods are denominated in US dollars in the international market. After the appreciation of RMB, the above commodities will become more "cheap", which will effectively reduce the cost of China's imports.

5. Relieve the pressure on China to repay its foreign debts

Since the reform and opening up, China has borrowed a lot of foreign debts in order to accelerate its economic development. According to the data released by the State Administration of Foreign Exchange of China on April 3rd, as of the end of December 212, the foreign debt balance of China was US$ 736.986 billion (excluding the external liabilities of Hong Kong SAR, Macao SAR and Taiwan Province region).

in p>212, the ratio of short-term foreign debt to foreign exchange reserves in China was 16.33%, the debt ratio of foreign debt was 8.96%, the debt ratio was 32.78%, and the debt service ratio was 1.62%, all of which were within the internationally recognized safety line. After the appreciation of RMB, it will alleviate the pressure of repaying foreign debts in China to some extent.

6. Improve the ability of overseas mergers and acquisitions of Chinese enterprises

In recent decades, the trend of global economic integration has become more and more clear. In order to achieve better development, China enterprises must resolutely implement the strategy of "going out", and the most convenient way to "go out" is to acquire foreign enterprises. In fact, many enterprises in China have been successful.

For example, in October 215, Shuanghui acquired Smithfield, the world's largest pork supplier. Obviously, after the appreciation of RMB, China enterprises will become more competitive when they acquire abroad.

7. Promote the rise of China's stock market

A country's (region's) currency appreciation should be a substantial benefit to its stock market. Because this will make commodities priced in local currency, such as stocks, more valuable for investment, thus attracting a large number of foreign funds to invest in the stock market, and ultimately driving the stock market to rise.

After the currency appreciation of Japan, South Korea and Taiwan Province in China in 198s, the stock markets of the three places all experienced a bull market that lasted for more than ten years and rose tenfold.

Baidu Encyclopedia-RMB Appreciation

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