At present, the British "Brexit" incident seems to have come to an end, but the butterfly effect caused by the incident is far from over. European stock market volatility, the pound's plunge in the British capital has shrunk Chinese enterprises and other issues one after another, showing that the UK "off Europe" event of radiation wide. And we have to discuss today is the impact of the event for the textile region in China's far Keqiao into export markets generated.
The UK and EU markets have long been the main markets for high-end textile exports in Keqiao District.
The reporter reviewed the summary of the Keqiao District's export market in 2015. It found that nearly 500 export companies in Keqiao have trade with the UK. Among them, “Qiantai Textileâ€, “Kaiming Textile†and “Xinxing Foreign Trade†and other three trades. The company's annual exports to the UK exceed $10 million.
The reporter also found that in 2015, Keqiao District's exports to the UK reached US$260 million, while exports to the EU market were US$1.2 billion, accounting for about 12% of Keqiao's export market. It can be seen that the UK has occupied a pivotal position in the EU export market in Keqiao.
As is known to all, the UK is a country with relatively high degree of trade freedom in the EU and even in Europe. Therefore, some of Keqiao’s exports to the UK are based on the UK as a “bridgehead†and then radiate to other EU countries and regions. Then, in the face of the big move of the British "Brexit", can Keqiao enterprises calm down?
Kaiming Textile is a major exporter in Keqiao District, and its export volume is at the forefront of Keqiao District. The British market has played an important role. Last year, the company's exports amounted to nearly 13 million US dollars, becoming the second largest company in Keqiao's export to the UK market. “The company insists on innovative and fashionable fabrics, which has greatly increased the demand of British customers.†Luo Haiming, general manager of Kaiming Textile Co., Ltd. told reporters that the UK market is the main “springboard†for the development of the EU market in the previous two years, so the current concern is Changes in the British pound exchange rate.
Compared with the layout Commit textile company for many years the UK market, located in the coastal industrial area of Ying Feng Textile Co., Ltd. to enter the UK market later. "Our company's fabrics mainly focus on British independent brand apparel, orders are relatively stable, and the annual export volume is expected to be around 5 million US dollars." Fu Shuangli, general manager of Yingfeng Printing and Dyeing Co., said. After the Brexit "boots" landed, the impact on its exports was not great, but the exchange rate of the pound, the euro and the US dollar fluctuated greatly, which made him worry. "Whether it is the importer or exporter, to bear the risk of exchange rate fluctuations will increase, which is bound to affect trade."
In this regard, the relevant person in charge of the Keqiao District Business Bureau also agreed that the economic impact of Brexit on the EU may affect the export of enterprises.
"For a long time, China's textile and clothing products to the EU adopted a tariff barriers and technical barriers to policy, especially in terms of tariff barriers, tariff burden on our export companies than European companies 12% to 20% higher. Today, the United Kingdom and Europe off This has led to financial and economic turmoil throughout Europe, which indirectly affects our textile and apparel exports."
Looking at the overall situation, the impact of the "Brexit" incident on China's economy will be centered around the exchange rate in the short to medium term. In the short term, exchange rate changes may trigger capital outflows.
However, in the long run, the Brexit event and the split of the EU will bring a new strategic development opportunity to China, which will also bring a new pattern for Keqiao enterprises exporting to the UK and the EU. The EU has continuously set trade barriers to China in recent years. The split of the EU will enable China to gain greater voice and better terms of trade on the international trade arena.
In this regard, Keqiao enterprises can wait and see, and continue to enhance their own strength during this transition period, so that they can re-appear in the international arena in the future.
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