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Two thirds of Chinese exporters able to handle yuan rise: survey |
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17:07, July 27, 2007 |
Almost two thirds of China''s exporters are able to deal with the effect of yuan appreciation on exports, according to a new survey.
More than one third of exporters believe the exchange rate has had a major negative impact on exports and less than one third consider export rebate cuts as an important factor, according to the survey reported in Friday''s China Business News.
Almost half of the companies surveyed said they would avoid staff cuts if the yuan continued to appreciate and a quarter would consider laying off less than five percent of their employees, according to survey.
Few companies responded to appreciation by reducing staff or payment, or by moving production to lower-cost countries.
More than 70 percent of the companies believed the prices of export products could be raised by one to five percent.
However, three quarters had no idea of or had not used financial tools to reduce risks and only one in five had begun to improve efficiency and add more values to their products, said the survey.
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