1. Improve the mechanism and effectively manage exchange rate risks.
Enterprises should establish a "risk-neutral" financial management concept, strengthen the training of financial personnel, formulate a reasonable hedging strategy, follow the principle of simplicity and applicability, and choose products that match the financial ability of enterprises to avoid greater risks caused by improper use of products.
2. Rational use of derivative financial instruments to reduce risks.
At present, there are various types of institutional exchange rate hedging products, and various combinations such as forward, spot and option can basically meet the daily needs of enterprises.
(Forward settlement locks the exchange rate and handles RMB and foreign currency swap business)
3. Take the initiative to add exchange rate clauses to the contract.
Enterprises should fully consider the possible income changes caused by exchange rate fluctuations, actively add hedging clauses when signing contracts with suppliers, and allow the exchange rate to be adjusted within a certain range. If the actual exchange rate fluctuates beyond this range, the exchange rate loss will be shared equally by buyers and sellers.
4. Make good use of policies to improve the efficiency of capital operation.
Using the policy of centralized fund operation management of multinational companies and various pilot businesses of trade and investment facilitation can improve the efficiency of enterprise fund management, facilitate enterprises to grasp the time of fund receipt and payment flexibly and actively, and help enterprises effectively reduce financial costs.
5. Give priority to local currency and stay away from the risk of exchange rate fluctuation.
In foreign export transactions, enterprises should use local currency as far as possible. If foreign currency transactions are needed, they should choose currencies that are freely convertible in the international financial market, such as euro and pound. In currency exchange, we should avoid "soft" and "hard" and choose hard currency.
6. Make full use of the financing facilities in the settlement method.
Purchase of export bills
Under the methods of collection and letter of credit settlement, the export enterprise mortgages the full set of cargo rights documents under the contract (or letter of credit) and borrows funds from the bank. Under this business, foreign trade enterprises can obtain advance payment of withholding interest and recourse from banks before foreign debtors pay, so as to speed up capital turnover.
bill discounting
The export enterprise applies to the bank to discount the unexpired bank acceptance bill or commercial acceptance bill, and the bank will pay the balance after deducting the discount interest from the par value to the export enterprise. At present, the RMB exchange rate is unstable and tends to appreciate. If the export enterprises are worried about the loss of export proceeds, they can make up for it by discounting bills.
factoring
Export enterprises grant accounts receivable to banks, which provide export enterprises with financial services such as bad debt guarantee, payment recovery, sales ledger management, trade financing and so on. Generally used in the transaction of exporting goods or services on credit. In this way, the credit risk of importers is locked, and foreign trade enterprises can obtain financing after transferring the creditor's rights of accounts receivable to banks, obtain foreign exchange accounts receivable in advance, and then go through the settlement procedures according to the current foreign exchange management regulations of the state to avoid exchange rate risks.