Discussion On Commercial Banks Optimizing Foreign Exchange Risk Management Of Import And Export Enterprises

Since 2001 China's accession to the WTO,China's rapid economic development,foreign trade and economic cooperation continue to strengthen,foreign trade enterprises in international trade volume rising,from 580 billion U.s.dollars in 2001 to 24 trillion U.s.dollars in 2016.At the same time in 2005 the people's Bank of China decided to reform the RMB exchange rate,the interest rate will be fixed by a single existing RMB exchange rate pegged to the dollar has gradually changed to the market as the basis,with reference to a basket of currencies managed floating interest rate adjustment.In recent years,the international monetary crisis and the international financial crisis in 2008 have led to dramatic changes in the exchange rate of currencies in the international market.Since 2015 8.11 the exchange rate reform,China implemented based on market supply and demand with reference to a basket of currencies,the managed floating exchange rate system,to further promote the marketization of RMB exchange rate,two-way fluctuations of the RMB exchange rate also increases accordingly.China's foreign trade enterprises in the face of this series of foreign exchange rate changes,the enterprise is unavoidable in the import and export trade in because of the change of exchange rate affects the value of the enterprise,the enterprise of its own exchange rate risk management and the use of foreign assets and liabilities demand rapid growth.This also puts forward higher requirements for the bank's design,innovation,differential marketing and risk control of foreign exchange derivatives.First of all,this paper expounds the theory of foreign exchange risk and foreign exchange risk,analyzes the types of foreign exchange risk and the corresponding strategies of foreign exchange risk management.Then,it analyzes the foreign exchange risks faced by the import and export enterprises,and puts forward the necessity and urgency of the analysis and management of the foreign exchange of the import and export enterprises under the new normal condition of the two-way fluctuation of the RMB exchange rate.The process,objectives and tools for foreign exchange risk management of import and export enterprises are reviewed.And list bank related foreign exchange products.On the basis of comparison and classification and characteristics of the existing foreign exchange bank products,foreign trade enterprise transaction data 'exchange 'products trading in the bank in Xiamen a state-owned bank in 2014 to 2016 as the foundation,combined with the 2014 to 2016 the U.S dollar to RMB exchange rate movements,such as foreign trade enterprises in the use of bank selection and foreign exchange products.And selects 3 representative enterprises in the transaction data of its foreign exchange products for further analysis,by contrast,the inductive method that commercial banks in providing the problems of foreign exchange risk management products in the import and export enterprises.According to the analysis of the problems,combined with the foreign exchange risk management theory,put forward suggestions for commercial banks:grasp the policy direction,adapt to market conditions,customer demand increased foreign exchange product innovation,and the timely introduction of risk monitoring tools and supporting.Independently put forward relevant product design ideas,vigorously expand options portfolio products innovation,combine domestic and foreign product linkage,explore business opportunities,rich options product categories.Use specific cases to verify the optimization role of foreign exchange risk management,and provide some ideas for the future development of bank foreign exchange risk management products.