Abstract: Under the background of the spread of American financial crisis and global economic turmoil, China's export enterprises inevitably suffered a series of negative effects brought by the financial crisis. How to resist risks and tide over difficulties is a major issue facing export enterprises at present. Starting from the influence of the financial crisis on China's export trade volume and export commodity structure, this paper analyzes the operational risks brought by the financial crisis to export enterprises, and puts forward some measures for enterprises to effectively avoid, guard against and resist the risks. Keywords: financial crisis, the impact of export enterprises, and countermeasures. Under the background of the deeper and global evolution of the US financial crisis, China's economy will also face unprecedented challenges. As China's economic dependence on foreign trade is as high as 60%, China is the third largest trading country in the world, and the rapid growth of exports has always been an important driving force for China's economic growth. In 2007, China's total import and export volume reached $2173.8 billion, and exports accounted for 37.5% of GDP, driving economic growth 1.5 to 2 percentage points. Major economies such as the European Union, the United States and Japan are China's main trading partners. The occurrence of this financial crisis will inevitably reduce their import demand for China, and will inevitably affect China's foreign trade exports, thus affecting China's economic growth. I. The overall impact of the financial crisis on China's exports There are two aspects to the impact of the financial crisis on China's exports: one is the direct impact, that is, the impact of the financial crisis on bilateral trade between China and the United States, especially on China's exports to the United States. Second, the indirect impact, that is, the financial crisis may have an impact on the EU, Japan and the world economy and trade, thus further affecting China's export growth to the EU, Japan and other countries in the world. The negative impact: the financial crisis has increased the business risks of enterprises. Make its living environment worse. 1. The financial crisis led to a sharp drop in the export growth rate. The financial crisis has led to a continuous decline in the consumer confidence index of American consumers, an increase in the unemployment rate and a rapid decline in spending power. According to statistics, the final value of consumer confidence index in the United States dropped to 76. 1 in June 2007, the lowest level since June 1992. The average unemployment rate in the United States reached 4.6% in 2007 and 5. 1% in March 2008, the highest point since 2005. The United States is the largest exporter of China, and the economic depression in the United States directly led to a sharp drop in China's exports. The financial crisis has also affected the economic and trade relations between the EU, Japan and the world, further weakening the growth of China's exports to the EU and Japan. Because the economic development of Germany and Japan has a high positive correlation with the economic development of the United States, the slowdown of the American economy has also led to the slowdown of the German and Japanese economies. At present, the economic growth prospects in the euro zone are bleak, Japan's economy is once again at a standstill, and the number of goods imported from China by Europe and Japan, represented by Germany, is also decreasing. According to statistics, in the first three quarters of 2008, China's exports to the United States increased by 1 1.2%, which was 4.6% lower than the same period last year. China's export to Hongkong, which is dominated by entrepot trade, only increased by 8.9% and decreased by 12.7%. Exports to the EU10-increased by 27. 1% in July, 22% in August and 20.8% in September. 2. The financial crisis has severely impacted labor-intensive products. 2. The financial crisis has seriously impacted the labor-intensive products in the export commodity structure. Due to the simultaneous impact of rising operating costs and weakening external demand, the export growth rate of some labor-intensive products dropped sharply, including footwear export growth 15. 1%, toys export growth 3.7% and clothing export growth 1.8%. And 2 1.2%. For example, among the products exported to the United States, labor-intensive products such as textiles, shoes and socks and low-end daily necessities account for a considerable proportion. The main consumer groups of these products are low-and middle-income groups in the United States. They suffered huge losses in the financial crisis and their purchasing power was greatly weakened, which will definitely affect the export of these products to the United States to a great extent. -1- China's export of labor-intensive products mainly relies on price advantage to compete with other developing countries. Due to the weakening of the US dollar and the appreciation of the RMB brought by the financial crisis, the price advantage of China enterprises has disappeared, and their exports have been further restrained. The financial crisis led to the decline in the export of labor-intensive products, which undoubtedly brought a "heavy blow" to the export enterprises of labor-intensive products. 3. The financial crisis has worsened the living environment of SMEs. 3. The financial crisis has worsened the living environment of SMEs. In the first half of this year, many small and medium-sized enterprises in the eastern coastal areas closed down, mainly in the toy and textile and garment industries, and most of them were private enterprises. The reason is that the technical level of small and medium-sized enterprises is backward, the production and operation costs are high, and the core competitiveness and anti-risk ability are poor. Although the China government has adopted a series of policies, such as relaxing the loan quota for small and medium-sized enterprises and raising the tax rebate rate for some textile exports, with the further spread of the global financial crisis, China exporters will still encounter a new round of blows from overseas. Second, the financial crisis has brought great trade risks to Chinese export enterprises. 1. The financial crisis has intensified the trade friction among countries. The financial crisis has further shrunk international trade and increased unemployment rate, which is bound to intensify fierce competition in the international market. Some countries and regions will adopt more conservative trade policies and measures, and the threat of global trade protectionism will further increase, forming new trade barriers. For example, although the strong fiscal and monetary policies of the US government are expected to prevent the US economy from declining, it is likely to lead to economic stagnation. When American economic growth slows down, protectionist forces will rise. According to the statistics of the General Administration of Customs of China, among the 18 new surveys launched by the United States against trading partners this year, 15 was aimed at China, accounting for 83.3%. At present, major textile organizations in the United States have put forward various schemes, including countervailing investigation, anti-dumping investigation and safeguard measures for specific products. The United States' special safeguard measures for China's textile and clothing products will be cancelled on June 5438+1 October1day, 2009. 2. The financial crisis has increased the risk of foreign exchange collection of export enterprises. 2. The financial crisis has increased the risk of foreign exchange collection of export enterprises. In recent years, under the pressure of international market competition, China's export enterprises have changed from traditional letter of credit settlement to credit settlement. This settlement method makes enterprises directly face the commercial risks of overseas buyers, and the risk of foreign exchange collection is even greater. Especially during the financial crisis, the credit crunch led to an increase in financing costs for some enterprises that were highly dependent on bank funds. Moreover, the amount of financing is also difficult to meet the needs of normal operation, and the market competition will become more intense. With the overall sales trend declining, it is difficult for enterprises to maintain the level of sales and profits, which leads to difficulties in capital turnover. They passed on the debt burden to China enterprises. As a result, enterprises can't recover the payment for goods, and the number of bad debts has increased sharply. The credit risk of foreign trade has increased. According to Cofas, the international credit insurance agency, the debt index of American enterprises increased by 35% in the first four months of this year. According to the data of China Export Credit Insurance Corporation, in the first half of 2008, the company received cases of losses reported by enterprises exporting to the United States, and the amount of losses reported increased several times compared with the same period last year. More than 5,200 overseas buyers across the country have lost their solvency due to the default or bankruptcy of China's export enterprises. The data from Liaoning Branch of China Export Credit Insurance Corporation also shows that the foreign trade risk has increased explosively since the beginning of 10. From 10 to 1 18, the company received 19 loss reports. The case value was 109 1 10,000 USD, with a year-on-year surge of 1898%. The financial crisis has accelerated the transfer of international order. The financial crisis has accelerated the transfer of international order. Due to the appreciation of RMB, rising prices of raw materials, rising wages of workers and other factors, the cost of China's export products has increased, and the profit margin has been squeezed constantly. For example, the profit of textile industry is 2% ~ 5%. If RMB exchange rate fluctuation and product quality problems are added, enterprises will face losses. The price advantage of China's export commodities has gradually disappeared. However, foreign buyers will not stop pursuing lower-priced products. They began to cultivate suppliers in Southeast Asian countries such as Viet Nam, Cambodia and Thailand, where commodity prices were lower, and began to transfer a large number of orders from China to Southeast Asian countries. At present, more and more orders for toys and clothing are transferred to Southeast Asian countries. Three. Strategies for China's export enterprises to cope with the global financial crisis Facing the severe international environment, the China government has issued a series of "rescue policies" to improve the foreign trade environment, ease the pressure on enterprises' operation and help enterprises (especially small and medium-sized enterprises) tide over the difficulties. China's export enterprises should take advantage of favorable policies and actively take effective measures to turn crises into opportunities, seek business opportunities in crises and seek survival and development in adversity. 1. Actively expand emerging markets, 1. Actively expand emerging markets and effectively avoid risks. The risk that China's exports are highly dependent on the United States and Europe has become a reality. According to the data of the first three quarters of 2008, the growth rate of China's exports to the United States and Europe has declined. However, the basic orientation of China's foreign trade export is good. From June 65438+ 10 to June 65438+ 10, China's total import and export volume was $21886.7 billion, a year-on-year increase of 24.4%. Among them, the export value was US$ 654.38+RMB 20.233 billion, an increase of 265.438+0.9%. This good momentum against the trend is mainly attributed to the rapid growth of exports to emerging markets and developing countries, which has made up for the small growth in markets such as the United States and Europe to some extent. For example, in the first three quarters, China's exports to Brazil increased by 90.2%, to India by 43. 1%, to South Korea by 4 1.8% and to ASEAN by 28.4%. This is the result of China market diversification strategy. As can be seen from the figure, Latin America, Africa and Oceania are the regions with the fastest export growth and great development potential, but the proportion of China's exports to these regions is low. Therefore, export enterprises should actively explore emerging markets on the basis of maintaining traditional market share as much as possible, and take emerging markets and developing countries such as the Middle East, Africa, Latin America, India and Russia as new export target markets. At present, China is building a 12 free trade zone with 29 countries and regions in Asia, Oceania, Latin America, Europe and Africa, covering a quarter of China's total foreign trade. With the gradual formation of China's free trade zone network, it will further broaden the international market space, increase trade channels and spread the risk of excessive concentration of exports in a few developed countries. 2. Establish a good risk prevention and control mechanism and accounts receivable system, 2. Establishing a good risk prevention and control mechanism and accounts receivable system to effectively prevent the global financial crisis will generally reduce the credit of foreign importers and banks, which means that our export trade will generate more credit risks. As the main body of risks, export enterprises should take the initiative to guard against risks. (1) Enterprises should establish a credit rating system, strengthen their understanding of the credit standing of foreign customers, grasp the dynamic information of their commercial credit and solvency in time for old customers, and investigate their credit standing with the help of credit management companies for new customers, so as to prepare for risk prevention in advance. (2) In the environment of financial crisis, enterprises should try their best to choose trade settlement methods that rely on bank credit, such as letters of credit and bank guarantees, and strive to reduce the commercial credit limit. (3) Enterprises should also make full use of credit tools such as export credit insurance, and vigorously promote risk prevention tools such as international factoring to reduce the risk of foreign exchange collection. (4) Enterprises should strengthen the management of export contracts, improve the contractual responsibilities and rights clauses, strictly perform the contracts, and prevent the other party from refusing to pay for the goods on the grounds of non-conformity. (5) Enterprises should establish and improve the accounts receivable system to ensure risk reduction. According to the statistics of the American Business Law Alliance on accounts receivable, the success rate in the past 12 months was only 26.6%, which means that the longer the accounts receivable are delayed, the less likely they are to be recovered. In case of bad debts, we should pay close attention to collection. 3. Enterprises should practice their internal strength and innovate independently; 3. Enterprises practice hard, constantly innovate independently, and effectively resist risks. In this financial crisis, small and medium-sized enterprises in labor-intensive industries have been seriously impacted. The reason is that the external environment has a negative impact, and more importantly, the competitiveness of enterprises is not strong, so when the environment changes, there will be a crisis. In this case, enterprises must practice their internal strength and enhance their ability to resist risks. (1) Enterprises should constantly optimize product structure, speed up industrial upgrading, increase added value of products and realize the leap from "Made in China" to "Created in China" through scientific research and technological innovation. -3- (2) Enterprises should strengthen brand building, establish China's own brand, and implement the famous brand strategy, so that independent brands can go abroad, occupy a place in the world market, and improve the core competitiveness of export products. (3) Enterprises should constantly improve their management level, tap potential internally and reduce operating costs to offset the negative impact of RMB appreciation, rising raw material prices and rising labor costs on corporate profits. (4) Enterprises can also carry out mergers and acquisitions and integration within the industry, moderately increase the concentration of the industry, and enhance their ability to resist risks. In short, judging from the development trend of the global financial crisis, it began to spread to economic entities, which will have a further impact on China's exports. China's export enterprises should improve their sensitivity to market risks, actively take effective measures to avoid, guard against and resist the risks brought by the financial crisis, turn the crisis into an opportunity, turn the pressure brought by the crisis into the driving force for enterprises to make preparations for meeting more severe challenges.