BIS BIS, according to data released on August the RMB real effective exchange rate (REER) — that fall for the first time after 11 months, but this year in August 1 – REER rose significantly ahead of other emerging markets, it can not help worrying China export prospects may be affected by the negative impact of continued strong exchange rate.
However, analysts say, as global trade has become increasingly diversified, let the devaluation of RMB exchange rate to boost exports in the short term is unsustainable.From a long-term perspective, through the marketization of exchange rate formation mechanism reform, promoting China’s economic structure transformation, industrial upgrading will make domestic get rid of the past have depended on low-end manufacturing exports, improve and optimize the structure of foreign trade.
BIS, according to data released this month 16 yuan REER index decline of 0.11% in August, is the first decline since last September.And 1 – August the REER index has climbed 6.29%, in 2012, the year rose 2.2%, however, now the REER index is the highest of major emerging economies.
Guide the depreciation boost exports unsustainable * * * *
Surrounding countries currency this year a significant depreciation of the trend, including the Japanese yen and the south Korean won, and China, Japan and South Korea in many export products structure is similar to that of the REER continues to overestimate, obviously weakened the export competitiveness of our products, to suppress the growth of our country’s exports.