Which countries' airlines are facing huge losses?

A: China International Airlines made a profit of 388 1 100 million yuan, China Eastern Airlines made a loss of 970 million yuan, China Southern Airlines made a profit of 453 million yuan, Hainan Airlines made a profit of 65 1 100 million yuan, and Shanghai Airlines made a loss of 60 million yuan.

Since the reform of RMB exchange rate system, RMB has continuously appreciated to about 7.76: 1 against the US dollar, with a cumulative appreciation of about 5.6%. As a way to adjust interests with the international market, what impact will RMB appreciation have on domestic economy and enterprises? The impact of RMB appreciation on domestic enterprises, and how should domestic enterprises deal with it under the background of RMB appreciation?

Different industries have different temperatures.

Perhaps this is unexpected for many people. Since the reform of RMB exchange rate system, although RMB has greatly appreciated, it has not had any impact on China's economy. Export or export, the order should have been received.

Changes in import and export trade in a certain year, China's total import and export trade was176.07 billion US dollars, an increase of 23.8% over the previous year, of which exports increased by 27.2%, 20 percentage points higher than imports. The trade surplus of import and export was177.5 billion USD, an increase of 75.5 billion USD. Foreign direct investment was $63 billion, up by 4.5%. The total value of China's foreign trade import and export was157.36 billion US dollars, up by 30.5% over the same period, of which exports were 86.62 billion US dollars, up by 33%. Imports reached US$ 70.74 billion, up by 27.5%, and foreign trade continued to maintain a good growth momentum.

In other words, China's import and export trade has not changed much because of the appreciation of RMB, but the growth rate has further accelerated. The main reasons are the sufficient supply of low-wage surplus labor in China, the rapid improvement of labor quality, the improvement of labor productivity and technological progress in China, and the pressure of RMB appreciation, which leads to the adjustment of product structure of enterprises in China.

The Impact of RMB Appreciation Due to the huge export demand of foreign-invested enterprises, the proportion of their exports in China's total foreign trade has remained at around 60%, and it is increasing year by year. While processing trade is at two ends, the impact of RMB appreciation on processing trade will not be too great.

For China textile products, its low-cost advantage is gradually weakening. If the appreciation of RMB exceeds 10%, the bargaining power of the whole industry will be significantly reduced, and the impact on textile exports will gradually emerge. Affected by the rise in international oil prices, the benefits of the chemical fiber industry have been severely squeezed. Under the effective adjustment of import quotas, the supply of cotton market is stable and the price fluctuates little. However, the overall price of cotton raw materials in China is higher than that in the international market. At present, the average profit rate of the industry is less than 3.7%, which is only about 65% of the national industrial profit rate. ?

As can be seen from the above information, on the one hand, the appreciation of RMB is not the fundamental factor that determines the growth of China's import and export trade; On the other hand, the impact of RMB appreciation on domestic economy and import and export trade is enormous, especially when China's trade dependence is so high (research shows that it has reached more than 70%). It not only promotes the upgrading of products in international trade, but also promotes the adjustment of domestic industrial structure.

The rapid appreciation of RMB will inevitably affect some industries, especially export industries, especially clothing, textile and electromechanical industries, which account for a large proportion of exports.

Assuming domestic prices remain unchanged, appreciation will increase the foreign prices of products in these industries, which will greatly weaken the competitiveness of these industries, coupled with fierce competition from a large number of emerging countries.

Faced with such a dilemma, the profits of traditional industries such as toys, clothing and textiles, which are mainly labor-intensive, are low. The appreciation of RMB will naturally weaken the cost advantage of these industries, forcing them to find another development space, such as controlling and reducing costs in these industries, or at the same time further improving production technology and management capabilities, winning by the quality of products and services, or industrial transfer.

Some people say that the appreciation of RMB can reduce the raw material prices of these enterprises, thus reducing their production costs, but China enterprises will not reduce their production costs and improve their productivity because the factor prices of China enterprises are more dependent on domestic than international. Of course, its positive impact on industries that rely on imported raw materials and high foreign debt cannot be underestimated. For example, China's aviation industry, the decline in crude oil prices and the reduction in US dollar debt are all favorable factors for the domestic aviation industry.

If the RMB appreciates too fast, the biggest victims may be some export-oriented enterprises in China, their workers and the entire China economy, while countries that expect the RMB to appreciate rapidly will benefit.

For domestic enterprises, the impact of RMB appreciation on different industries will be different, so different industries should adopt different ways to deal with it. First of all, any domestic enterprise must face the impact of RMB appreciation, whether it is an export-oriented enterprise or an inward-oriented enterprise; Secondly, for the appreciation of RMB, enterprises should take corresponding measures to reduce business risks according to the changes of national policies; Thirdly, for the appreciation of RMB, enterprises should take it as the driving force of development, reduce costs, improve product quality and enhance enterprise competitiveness from technological innovation, product upgrading and enterprise management. Finally, for RMB appreciation, enterprises should be able to use various market tools to avoid exchange rate risks.