Recently, reports on the renminbi breaking the seven have been overwhelming and swept across China. Export companies are aware of all the problems. What is the reason for the renminbi breaking seven? Lighting as an important export commodity, how does it affect the lighting export enterprises?

Event playback:

The People's Bank of China authorized the China Foreign Exchange Trading Center to announce that the median price of the exchange rate of the US dollar and other currencies against the RMB exchange rate in the inter-bank foreign exchange market on April 10, 2008 was: US$1 to RMB6.9920. After the two trading days of the callback, the RMB quickly broke through the “7.0” mark!

The accelerated appreciation of the exchange rate of the renminbi against the US dollar, on the one hand, is that the US economy is dragged down by the subprime mortgage crisis, and in order to curb imports, let the dollar exchange rate depreciate. On the other hand, China's rapidly rising trade surplus and expanding foreign exchange reserves are the internal reasons for forcing the renminbi to appreciate. (Excerpt from: NetEase "Central Bank website: RMB against the US dollar broke through the seven-yuan mark in the middle price reported 6.9920 yuan")

First, 2007, lighting companies have been hurting

Just a single renminbi breaks seven, will it affect lighting export enterprises? In fact, as early as 2007, a series of adverse impact on lighting exports, has caused the lighting companies to be scarred.

Foreign countries: EU continues to impose anti-dumping duties and implement technical barriers

On October 11, 2007, the EU decided to extend the anti-dumping duty on Chinese energy-saving lamps to 2008. Since 2001, the EU has imposed a 66% anti-dumping duty on Chinese energy-saving lamps for a period of five years. After the expiration, the EU launched a 15-month investigation into energy-saving light bulbs produced in China to decide whether to continue to impose anti-dumping duties. After the investigation, the European Commission recommended a one-year anti-dumping duty on energy-saving lamps produced in China.

In addition to the trade barriers of anti-dumping duties, the EU also exerts influence through technical barriers. Mainly the three green directives: "Decree on Waste Electrical and Electronic Equipment" (WEEE Directive), "Directive on Restriction of the Use of Certain Hazardous Substances in Electrical and Electronic Equipment" (RoHS Directive) and "Energy Design Product Ecological Design Framework Directive" (EUP instruction).

Domestic: export tax rebates, new labor laws and rising prices of raw materials

On June 18, 2007, the State issued the Notice of the Ministry of Finance and the State Administration of Taxation on Reducing the Export Tax Rebate Rate of Some Commodities, stipulating that since July 1, 2007, the export tax rebate policy for some commodities will be adjusted. According to incomplete statistics, there are 12 lighting products directly affected this time, as shown in the following table:

The implementation of the "New Labor Law" undoubtedly increases the burden of the labor costs of private enterprises, especially small and medium-sized enterprises, and will cause some enterprises to be eliminated. Especially in the lighting industry, most of them are small and medium-sized enterprises. Really implementing the "New Law", many companies are difficult to sustain, leaving behind high-quality enterprises.

In addition, the rising prices of raw materials such as copper and international crude oil have put a lot of pressure on the export of lighting lighting products. It is estimated that the export cost in 2008 has increased by at least 30%-40%. At the same time, the high freight rate brought by the high oil prices also makes the company's profit margins more and more

Second, the renminbi broke seven: lighting companies hurt pains

Under the adverse impact of export tax rebates, Chinese lighting export enterprises have gone through a difficult period in 2007. In the hope that the 2008 Olympic year will receive a bumper harvest, in April 2008, the news of the renminbi breaking the seven will bring a greater impact on export tax rebates. After a series of adverse shocks, how can lighting export enterprises face the dilemma of breaking the seven?

Is the price increase or silence? - The price increase will likely result in a decrease in the number of orders. As everyone knows, China's lamps can be so popular in the international market, largely because of the low price of our lamps. The advantage of price increases will no longer exist, and the number of orders may be reduced; silence may lead to business failures. Under the influence of a series of factors such as export tax rebates, corporate profits are already very small. The renminbi breaks seven and makes the company's profits lower. If it remains silent, it will undoubtedly lead to losses and eventually collapse. As a result, lighting export enterprises face a dilemma and there is no choice.

So far, under the impact of the renminbi breaking, how to survive and develop is a problem that lighting companies must think about.

Aladdin Lighting Network editorial point of view:

1. The price increase is inevitable. As a labor-intensive industry, the lighting industry is very limited in profit. If you do not increase the export price, the company may not survive. However, the price increase should be controlled within the market acceptance range, and it is not appropriate to increase the price significantly.

2. Diversified development. Instead of unilaterally exporting, it is painful to withstand the adverse effects of a series of exports. It is better to go to the domestic market and export at the same time to increase domestic sales. With the economic development, the domestic market is broad, and the country continues to give preferential policies, such as: the interim measures for the promotion of financial subsidies for efficient lighting promotion. Both the preferential policies and the export risks are avoided. Trying to expand domestic sales is beneficial to the company.

3. Increase product research and development efforts. The price increase is only a last resort. If the company can increase product research and development, and develop more high-tech, high-quality, new energy-saving products, it will increase the market competitiveness of enterprise products and make it easier to gain a foothold in the market.

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