For ordinary people, the biggest impact of RMB depreciation is probably traveling abroad. Statistics show that last year, the number of outbound tourists in Chinese mainland exceeded 654.38 billion. The reporter consulted many travel agencies such as Caesars Travel and learned that the price of outbound travel has not been adjusted yet, but there is no doubt that the cost of outbound travel will increase. Especially those who are keen on buying cosmetics, designer bags and watches, they may have to pay more.
"According to the per capita consumption of $5,000 in the United States, if the exchange rate of RMB against the US dollar ranges from 6.2 to 6.4, the increased cost will exceed 1 1,000 yuan. It is affordable for those who have the ability to travel abroad. " Zhao Qingming, chief macro researcher of China Financial Futures Exchange, said that the impact of RMB depreciation on personal consumption is limited.
Although the impact is limited, the impact is there after all. Wu Dan, a Beijing citizen who has four years of experience in Haitao, told reporters that the clothes and daily necessities she bought for her daughter in the United States are generally about 30% cheaper than domestic counters, and the prices of overseas goods purchased after RMB depreciation will increase, and Haitao's advantages will be discounted. "After all,' Haitao' is laborious, domestic shopping is more convenient, and you can try it on."
For families whose children study abroad, the burden will increase. A business person of Bank of China told the reporter that the number of people exchanging US dollars has increased in recent days, but not as much as expected.
In Zhao Qingming's view, the current impact of RMB depreciation on individuals is more reflected in the management of financial assets. For people with a large number of financial assets, we should pay attention not to concentrate their assets on a single currency, and we can appropriately increase the assets in US dollars.
Apart from personal life, RMB depreciation will objectively affect import and export enterprises. The central bank had previously explicitly denied that the devaluation of the renminbi was to stimulate exports. Wang Jun, Deputy Director of Consulting and Research Department of China International Economic Exchange Center, pointed out that the main purpose of this adjustment is to promote the marketization of exchange rate formation mechanism. Devaluation of 2% or 3% is unlikely to stimulate exports too much, but it will help stabilize exports objectively.
Zhang Yiping, a senior macro analyst at China Merchants Securities, said that low-end manufacturing industries such as textile and furniture manufacturing will benefit from RMB depreciation.
How to deal with RMB exchange rate depreciation? Xiao Chen, a young white-collar worker, exchanged 1 ,000 dollars in advance because he planned to travel abroad and worried that the RMB would continue to depreciate. "If consumers want to use dollars in the short term, they can consider exchanging them as soon as possible. If it is used for a long time, it can be observed for a period of time. After short-term shocks, the RMB exchange rate will reach a new equilibrium. " A salesman of Bank of China suggested.
In addition, many people like to use credit cards to shop when they go abroad. If the RMB appreciates, the deferred repayment can be paid less. However, if the RMB depreciates, it is better to repay in advance.
For export enterprises, we should not only see the short-term benefits brought by RMB depreciation, but also see the risks of exchange rate fluctuations, and actively strengthen risk management. Guan Tao, a senior researcher at China Financial Forty Forum, said that enterprises should establish a correct awareness of exchange rate risk and actively manage the risk of two-way exchange rate fluctuations. To correctly understand the role of exchange rate hedging tools, exchange rate hedging should not be regarded as a tool to make money, but as a means to manage risks, appropriately hedge foreign exchange exposure and avoid excessive speculation.