Since the beginning of this year, many people in the industry believe that the passive appreciation of the renminbi against the euro will affect the export of China's construction machinery industry. In the long run, export companies will be negatively affected by exchange rate appreciation.
However, in the short run, the current appreciation of the renminbi is the largest for the euro, and the appreciation of the dollar is relatively small. The main exporting countries of China's construction machinery enterprises are developing countries, such as Africa and the Middle East, which are settled in US dollars.
On the other hand, the main reason for the impact of exports comes from the demand of the international market. At the same time, the appreciation of the renminbi is only one factor affecting exports. Therefore, industry analysts believe that the pressure of RMB appreciation will not have much impact on the export of China's construction machinery industry in the short term.
China’s export market, which was hit hard during the financial crisis, has recovered in the global economic recovery this year. However, the unexpected European debt crisis followed, making the entire export environment more complicated.
Investment guru Soros said on August 10 that the world has just entered the "second scene of the financial crisis." He said that in the context of the deterioration of the European sovereign debt crisis, governments have been forced to cut the budget deficit, which may drag the global economy back into recession.
According to Hengyi Machinery statistics, since the beginning of this year, the main export products of China's construction machinery have been in a downturn in other months except for the slight increase in the peak seasons in March and April, while the small construction machinery products mainly exported to Europe and the United States are in the The financial crisis has been sluggish, especially crushers, sand making machines, and fine crushers.
The negative impact of the European debt crisis will affect China's construction machinery exports in the next few months, and the export market will be in a difficult position. Construction machinery enterprises should be vigilant and respond positively. The appreciation of the renminbi this year will have little impact on China's construction machinery exports. The cancellation of export tax rebates on some of the commodities that will be implemented will indirectly benefit China's construction machinery exports.
The spread of the European debt crisis has caused the newly-returned export market to once again be in trouble. From the perspective of China's export sales of crushers and sand-making machines in May, it showed signs of a significant decline for two consecutive months. Judging from the overall environment of the international market, in the coming months, the European debt crisis will continue to drive down China's construction machinery exports.
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