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| Author: | Fu, Jianshe |
| Title: | Making long-term choice: the long-term trends of RMB exchange rate and Chinese export enterprises' countermeasures (original in Chinese) |
| Journal: | Intertrade (c)
1997 : 5, p.44-45 |
| Index terms: | EXPORTS EXCHANGE RATES CHINA |
| Language: | chi |
| Abstract: | Since 1994, China has practised a unitary system of floating exchange rate under control. RMB has gradually realised free convertibility under the current account. Under the new exchange rate system, RMB exchange rate is faced with pressure on continuous appreciation. The appreciation of RMB, however, will increase the cost of enterprises' export and weaken the international competitiveness of export commodities. Facing the difficulties, enterprises should adopt new technology, develop new products, adjust product mix , strengthen management and reduce cost. Foreign direct investment, however is the their long-term choice. |
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