Yuan Appreciation Erodes Exporters’ Confidence - Cargo Services Far East Ltd.

Yuan Appreciation Erodes Exporters’ Confidence

The yuan’s recent strong appreciation has eroded exporters’ confidence and their willingness to take new orders, the Ministry of Commerce said yesterday.

“ Quick appreciation helps improve importing, but has a big negative impact on exporters’ contracts and profits, “ the spokesman said.

He said a survey conducted by the Ministry found 77.5% of exporters had noticed a decline in profits, with 6.6% expecting deals to be broken.

~ Shanghai Daily, May 17, 2013 ~



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