The Research Of Chinese Export Companies' Foreign Exchange Risk Management

Chinese enterprises have made remarkable achievements in "going out".While Chinese export enterprises have been expanding themselves in the international market,they have also suffered enormous exchange losses as a result of the lack of foreign exchange risk management.This paper selects 249 listed enterprises in China as the research object.Through the statistics of the relevant information of foreign exchange risk management disclosed in the annual report and announcement of enterprises,the following problems are found in the foreign exchange risk management of Chinese export enterprises.First,nearly one-half of China's export enterprises are exposed to greater foreign exchange risk;second,the foreign exchange risk management tools used by China's export enterprises are relatively single;third,the utilization rate of the foreign exchange derivatives of Chinese export enterprises is about 34.5%,which is still low compared with that of many developed countries;finally,most of the sample enterprises exposed to foreign exchange risk Risk management have not disclosed their clear plan and management system,and it still needs to strengthen the construction of foreign exchange risk management system.This paper takes Keda Jieneng enterprise as an example,through the analysis of its current situation of exchange gain and loss,foreign exchange risk management tools and foreign exchange risk management system,summarizes the experience,combined with the research of existing literature,aiming at the problems existing in foreign exchange risk of Chinese export enterprises,introduces foreign exchange risk management tools,and then summarizes foreign exchange risk management strategies to deal with different foreign exchange risks.After that,it provides reference for the construction of a perfect foreign exchange risk management system.