Central University of Finance and Economics's China Banking Research Center recently released a research report, which shows that less than 30% of export enterprises can tolerate more than 4% yuan appreciation.

Nearly 50% of textile, clothing, shoes and hat manufacturers can tolerate the appreciation rate of RMB 2% (below 2%).

The report aims to study the impact of RMB appreciation on export enterprises. The report divides the RMB appreciation rate that export enterprises can tolerate into five grades: 2% below, 2%~4%, 4%~5%, 5%~6% and 6%, while the magnitude of RMB appreciation that the exporters can tolerate is mainly concentrated below 2% (2%). Some enterprises (707) account for 39.7% of the total sample size, followed by 2%-4% (602), 33.8%, and less than 30% of the export enterprises can tolerate RMB appreciation by more than 4%.

Among them, textile, clothing, shoes and hat manufacturing industry can tolerate RMB appreciation rate of 2% (below 2%), up to 44.5%, while the proportion of enterprises that can tolerate more than 6% is zero.

The RMB appreciation rate will accelerate in 2008, so it is foreseeable that the export pressure of small and medium-sized export enterprises will be greater in 2008.

The report holds that export enterprises play an irreplaceable role in digesting domestic excess capacity and absorbing domestic surplus labor force.

At the same time, many manufacturing industries such as agricultural and sideline products and textile, shoes, caps and other manufacturing industries have strong linkage effects on agricultural development.

Therefore, at the present stage, export enterprises, especially labor-intensive export enterprises, still need to be protected. In the face of the increase of land prices and related costs in the eastern coastal areas, policies for the pfer of these small and medium-sized export enterprises to backward areas in the mainland can be implemented.