Latest News:  

English>>Business

Yen's depreciation hits Chinese exporters

(Xinhua)

17:13, May 16, 2013

BEIJING, May 16 (Xinhua) -- The depreciation in the Japanese yen has greatly affected China's exports to the country, although Japan's quantitative easing measures are conducive to its domestic market recovery, the Ministry of Commerce said on Thursday.

China's currency the yuan strengthened 6.1 percent against the yen in April, while China's exports to Japan declined 1.2 percent year on year in the period, the ministry's spokesman Shen Danyang said at a press conference.

The yuan's rise has inflicted great impacts, mostly adversely, on Chinese exporters, especially regarding Sino-Japanese trade, Shen said.

The spokesman said that despite an improving overseas market, Chinese exporters, wary of the yuan's rapid appreciation, have shunned long-term orders in favor of short-term ones.

It has also led to a decrease in corporate profits, challenging the survival of export businesses, especially small and medium-sized enterprises, Shen noted.

A report conducted by the ministry showed that 77.5 percent of surveyed Chinese companies saw significant decreases in profits from orders at hand during the January-April period. About 73.4 percent projected flat or declining export profits for the whole year.

We Recommend:

Successful women:
Rich and beauty

Sweet 'lovers hotel' making good profit

Americans would shun
a Chinese brand

Jack Ma to resign as
Alibaba CEO: Video

Int'l auto show kicks off in SW China

Top 10 most profitable
public companies

Sony releases super
slim table in Hong Kong

Spring hopes maid themes will draw numbers

Quake-hit ebony carving struggling to recover

Email|Print|Comments(Editor:WangXin、Chen Lidan)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Jiangmen missile frigate in fire training

  2. Troops in night equipment support drill

  3. Traditional Carabao Festival kicks off

  4. Giant rubber duck deflates at HK harbor

  5. Yi people celebrate festival in Yunnan

  6. China’s weekly story (2013.5.3-5.11)

  7. Hot baseball cheerleading squads in China's Taiwan

  8. Highlights of Chinese table tennis team

  9. 2013 Qingdao Int'l Auto Show kicks off

  10. No Wonderland any more

Most Popular

Opinions

  1. Chinese dream grows with the world
  2. Culture key to sustainable development
  3. Huawei spy story is nothing but a joke
  4. Ten white papers, road to human rights protection
  5. Teen's tragedy reveals child abuse problems
  6. People with depression show disrupted brain 'clock'
  7. iPad obsession hurting child's development
  8. Positive signs in Europe hard won
  9. Who do psychiatrists turn to for therapy?

What’s happening in China

Three injured in plane's failed take-off in NE China | Pictures

  1. Man arrested for plane bomb hoax calls
  2. Shanghai battery factory canceled over protest
  3. Telephone threats ground five planes
  4. Sex education sessions target migrant teens
  5. China vows to help college grads land jobs