The major exports are most seriously affected by the textile industry

By the U.S. to dramatically reduce the impact of the RMB, the yuan against the dollar the day before yesterday in sharp systems Inquiry diving 495 basis points, the biggest decline since the foreign exchange reform, the renminbi devaluation, which export large textile industry is a major positive, long-yan Holdings (000,995), leading shares (600,630), south of Fujian Textile (600,483), the Vosges shares (002,083), textile stocks rose sharply Tuesday result.

Due to continuous appreciation of RMB and the financial crisis, export enterprises in a row down the value of exports, while exports as a major impact on the textile industry is even more serious, long-term appreciation of the yuan business of Phagocytosis trend in most of the profits of textile enterprises due to raw materials, labor and costs Both are denominated in yuan, and exports of U.S. dollar-denominated products, the export business difficult to adapt to changes in the price of RMB appreciation to accelerate the pace of a lot of room for profits lost in the foreign exchange links, and even some companies often export shall return later be converted into yuan Negative profits.