Chengdu Shoe Enterprises Start Branding Campaign To Cope With RMB Appreciation
October 27th, raw materials, labor costs rose sharply, coupled with this year's appreciation of the renminbi, Sichuan
Foreign trade shoe enterprises
Under great pressure.
Chengdu shoe enterprises start branding campaign to cope with RMB appreciation
Export of labour intensive commodities declined
In October 24th, the latest data of Sichuan Provincial Department of Commerce showed that in the first three quarters, the import and export, export and import volume of our province exceeded the level of last year, and the increase was 16.4, 21.5 and 10 percentage points higher than that of the whole country.
However, under the overall upward trend, many labor-intensive commodity exports have dropped sharply.
Among them, clothing fell by 38.4% over the same period last year.
"RMB appreciation has great impact on the export of labor-intensive goods in our province, but it is also an opportunity."
The director of the foreign trade department of the Provincial Department of Commerce, for example, said, "under the background of RMB appreciation and compressing the profits of enterprises, only through adjusting the product mix and increasing the added value of products,"
brand
Such measures as value can enable enterprises to survive and develop, especially labor-intensive enterprises.
Chengdu shoe enterprises begin to reflect
As the provincial commerce department responsible person said, under the tremendous pressure of RMB appreciation, many shoe industry in Chengdu also began to reflect constantly.
A manufacturer mainly engaged in border trade women's shoes revealed that the original profits were not high, which was reduced to below 3% because of the continuous appreciation of the renminbi. "Before it was mainly settled in US dollars, at the beginning of this year, we had settled in Renminbi, and settled according to the exchange rate on the date of signing the contract.
But this also greatly reduces the order quantity.
It is reported that, in addition, many Chengdu shoe enterprises have agreed on the forward exchange rate with their clients to reduce the pressure brought by the appreciation of the renminbi.
"But these are not permanent solutions. We are now considering how to start the brand and increase the added value of the product."
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