The Research About The Financial Risk Management Of China’s Export Enterprises Under The Background Of RMB Appreciation

The RMB exchange rate reform began in July21,2005. The goal is to build a system in which the rate is based on market supply and demand with reference to a basket of currencies, a managed floating. Since the reform of the RMB exchange rate appreciation trend. The data show that the RMB exchange rate from8.2765reform has entered the era of "6".From2006to2012, the exchange rate of RMB against the U.S. dollar cumulative appreciation of24.01%. During this time, the rate also showed a two-way volatility trend, but overall still tends to appreciate. In the first quarter of2013, the RMB exchange rate to create a new high, the appreciation rate reaches0.26%. Looking ahead, the rate still has the appreciation trend. Export enterprises in the first line of the international trade, this trend will enable the competitiveness of their products weakened, in addition, the sharp rise in labor costs, raw material costs and other factors have had a great impact on export-oriented enterprises in these years. The face of a series of major impact brought about by the appreciation of the RMB, how to further strengthen risk management to deal with and prevent the risk of becoming China’s export enterprises must be taken seriously and resolved a major issue.This paper analyzes the trends of RMB appreciation which is based on some previous studies. After that, this paper discourses some theories about the RMB exchange rate, international trade and financial risk management. After that, this paper analyzes three paths which affect the profits and the field of the export enterprises. The three paths are economic path, trading path, and accounting path. Based on the analysis, I think the RMB appreciation will affect the whole process of production which includes buy and sell for China’s export enterprises. In the end, this paper put forward some proposal on how to improve the skill of financial risk management for China’s export enterprises.This paper has some innovations. First, this paper which links the exchange rate and the corporate finance starts with a hot topic and ends with the financial risk management. Second, this paper analysis the systematic financial risk in a new perspective which will have a certain significance for China’s export enterprises.This study in the strategy of dealing with the risks is not enough. Some financial instruments in this paper are less used in China, so the research needs to do more.