seizing strategic opportunities for the capital times and the financial community

With general elections coming, United States put pressure on China exchange rate again. Last month, the United States Senate passed the 2011 rate oversight reform act.　　Although China believe that the United States will not support and passage of the Bill, but in the United States election year special political time, China must prepare for the worst. June 2010, China once again starts currency reform, the peopleCurrency exchange rate flexibility to further strengthen the end of October 2011, compared with the beginning of the July 2005 exchange rate for the first time, the Renminbi-dollar exchange rate has appreciated 30%, up from an increase of most currencies against the dollar. Appreciation of the Renminbi will continue in the future, how can the future face of exchange rate changes? On November 17, international business and Economics held its "manCurrency exchange rate reform, trend and countermeasures ", the lecture, Dean of College of international business and Economics Finance, Professor and doctoral supervisor Ding zhijie on explaining this in detail. In his view, despite the appreciation of the RMB exchange rate has been relatively substantial, let its currency appreciate weakened but persisted, suggests that the Renminbi exchange rate has slightly undervalued, economic fundamentals decide the currency remains stronger currencies;But moderate appreciation is not all bad, strong currency conducive to industrial restructuring is conducive to expanding domestic demand swtor credits, it will help improve people's livelihood and quality of life, growth and development of a more concerted, avoids not only growth development. Continued appreciation Ding zhijie believed that Americans may not really want the Yuan to appreciate. Countries in the past decade ChinaSoaring import prices of commodities on the market, processing into made in China, prices have little or no rose, the Chinese took over most of the burden of rising global commodity prices.　　Cheap policies unsustainable appreciation so that companies, and China is to raise prices of goods of space, as a major importer of Chinese goods of the United States will be affected. United States edgeWhat force RMB appreciation? Ding zhijie believed that is mainly because the United States domestic political factors, "my own judgment is that Americans are more of a take rate card, with China in other areas the asking price, exchange rate is not his real purpose, Yuan up 20% to the United States and what will be then? Bring nothing just makes United States inflation. "In fact, this year7 August, the United States is concerned about the rising prices of goods imported from China, fearing that this will be the United States an important factor of rising prices. He said, "because the Chinese believe that the exchange rate is important, do you think this is your life, plays the snake played seven meters, hit this place you will to compromise more concessions. "However, still there is appreciation of the Renminbi. Ding zhijieBelieves that if the Yuan back to within $ 6, equal to the level of the end of 1993, then-current price $ 5.72, "now appears to have little appreciation of around 10%. "The negative impact of exchange rate appreciation is not as big as imagination. On July 21, 2005, China began to implement based on market supply and demand, reference to a basket of currencies for adjustingFestival, a managed floating exchange rate system. $ Currency no longer pegged to the single, one-time from 8.2765 against the dollar to 8.11. That year, the vast majority of economists in China believe that, if the appreciation of the Yuan 20%, China's exports will be affected by a huge impact, especially in labour-intensive industries, such as clothing, shoes, textile industry. In factRMB exchange rate from 6.85 8.27 per cent in 2005 to 2008, those years growth in Chinese exports to nearly 30% speed. Ding zhijie said that the clothing, textile industry, China, in those years the employment of labour force has increased, these industry profits increase, but at the same time all of the changes brought about by these industries export product qualityRose.　　Appreciation of industrial upgrading in the context of Ding zhijie believed that its currency and not as terrible as imagined, in fact, the fundamentals of the economy to adapt to the rise in favour of the industrial structure adjustment. Appreciation in the tradable sector impact, but the impact is short-term. Ding zhijie believed that the long term, due to the upgrading of industrial structure, will enableChinese goods on a new platform for international competitiveness, Chinese companies will live better, "but this process is a bit painful. "He said that overcapacity in some comparative advantage in labour-intensive industries and have transferred abroad, is at the beginning of a stronger industry international transfer of important forms. To compete in big business swtor power leveling, appreciation for its global strategy to provide aA good opportunity.　　Going global investments, in the short term there is a risk of RMB appreciation, but conducive to long-term development. Ding zhijie believed that RMB appreciation trend, business strategies have to adjust, hit exports and import substitution industries, Midwest labor more cheaply by shifting production to reduce costs, or by improving product quality,Increasing product variety, extending the value chain to improve competitiveness, but a more fundamental transformation is the method of production, turned to China under the new exchange rate environments remain internationally competitive industries or potential, in particular capital-intensive and technology-intensive industries, with a pain in the short term costs for long-term development.　　This phenomenon has occurred in the past few years. Foreign plans for EMBA capital management ", trend and countermeasures of RMB exchange rate reform", the lecture, is the University conducts the EMBA Auditorium serial lectures of master teachers. Following last year's launch of television media authority after the EMBA, duiwaijingmaodaxue plans to newly established a capital at the end of the year featured the EMBA classes, Ding zhijie is the EMBA swing backA Professor of zizhong. From strength, business administration, international business and economics education for nearly 30 years, as one of the first allowed to operate EMBA Education colleges also has 8 years of rich experience, is famous for its excellent teaching quality in the domestic area of University City with EMBA. International EMBA is committed to exploring ways of Chinese enterprise development, the Chinese economyThe process of globalization, has been aggressive positive innovation. At present, Beijing University, Tsinghua University, Fudan University in organizing capital operations, but it is the nature of the workshop, mainly to domestic teachers of teachers, there are no degrees conferred the EMBA courses. Whereas the University planned to start capital operation in EMBA class, is an international high end lineMaster's degree courses. The capital operation in EMBA class, a comprehensive University EMBA class basis, to preserve the Basic module courses and some of the core module courses, and for each niche offering specialized courses in the capital as a feature module. Curriculum as a whole sought to advanced the concept of enterprise capital operation in the West and the actual situation of Chinese enterprisesThe combination, and in line with the State of enterprise financial management requirements and the legal framework of rules, allows students to proficiency in capital operation concepts, processes, seizing strategic opportunities for the capital times and the financial community, deal with investment and financing risks.