Posts Tagged ‘CNY’
Learn how an elite group of RMB trading hubs can save you 8% on your China sourcing.
In our blog post “Pay suppliers in RMB and save big” we explained how Chinese suppliers commonly build a “buffer” into dollar-denominated contracts to guard against exchange rate risk. This buffer is around 8% in some cases. That’s a lot of money. Paying in RMB is one way to avoid this 8% mark up. But…
Read MoreRMB’s exchange rate more flexible. Your risk just doubled. What to do?
The China Daily runs the headline “Yuan’s trading reform gains momentum, risk prevention needed.” Expanding the yuan’s floating band is a significant step of the yuan’s trading reform, but will also increase trading risks for export-oriented firms and banks in the short run, said Lian Ping, chief economist with Bank of Communications. The exchange rate…
Read MoreWhat buyers need to know about Chinese New Year
The following tips for dealing with Chinese New Year come from my good friend Helmut Maertin, who is based in Shenzhen. Like most western countries, China largely follows the Gregorian calendar that sees 1st of January to be the start of each year. However most of the traditional Chinese holidays follow the lunar calendar…
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