Effects Of Exchange Rate Fluctuations Of The RMB Against China's Export Product Structure

The artical to analyze from two parts that theory and empirical analysis, In the part of theory, we use the Theory of Comparative Advantage and Exchange rate elasticity theory to analyze. In empirical analysis part, According to SIC, we define the products from SITC0 to SITC4 as resources-intensive products, SITC6 and SITC8 as labor-intensive products, SITC5 and SITC7 as technology-intensive products, which to state how the RMB exchange rate do effect to the structure of export product. Furthermore, we choose the proportion of labor-intensive products occupied in total amount of export, the proportion of technology-intensive products occupied in total amount of export, the proportion of resources-intensive products occupied in total amount of export as explained variable respectively, and choose Gross Domestic Product, Foreign Direct Investment, RMB Real Exchange Rate and refunding export taxes as explaining variable to do empirical analysis, through the empirical results to verify the theoretical analysis. Finally draw a conclusion that the RMB Exchange Rate Volatility do significant effect on our export product structure, which effect the labor-intensive products most, and make least influence on resources-intensive products. So under the background of the RMB exchange rate appreciation and the exchange rate volatility, it is necessary to pay attention to fact that exchange rate volatility do a huge impact on the traditional advantage products. In short term, we should use financial tools to avoid risk, and in long terms, we should improve the contents of science and technology in products, enhance the international competitive, and reduce the negative influence.