At 21:34 on February 19, 2024, the exchange rate of South Korean won against Chinese yuan is: 1 won is equal to 0005385 RMB, 10 billion won is equal to 53,850,000 RMB. 
The impact of the increase in the exchange rate on the people and businesses is as follows:
Imported goods***If the RMB appreciates, the **may** of imported goods**. This can lead to higher prices for certain imported goods, and consumers will have to pay more for these goods.
Increased cost of outbound travel: The appreciation of the renminbi may lead to an increase in the cost of outbound travel. When the renminbi appreciates, foreign currencies become comparatively more expensive, which makes outbound travel more expensive.
Reduced cross-border e-commerce shopping discounts: If the RMB continues to appreciate, cross-border e-commerce shopping discounts may decrease. Due to the appreciation of the yuan, overseas shopping may no longer be as profitable as it once was.
Increased purchasing power of overseas assets: An appreciation of the renminbi may increase the purchasing power of Chinese to purchase assets overseas. For example, buying a house and investing in overseas markets have become more attractive for the purchase of overseas assets.
Individuals who hold foreign currencies may face shrinking assets or increasing liabilities: if a person holds a large amount of assets in US dollars, then he may need to sell these assets in exchange for RMB to keep his financial situation stable.
Businesses: Impact on the cost of imported goods and services: If the renminbi appreciates, then the cost of imported goods and services may increase because more renminbi will need to be paid for the same goods and services. For those businesses that rely heavily on imports, this could lead to higher production costs.
Impact on earnings on exported goods and services: If the renminbi appreciates, then the benefits on exported goods and services may be reduced because foreigners will pay less renminbi to buy the same goods and services. For those businesses that rely heavily on exports, this can lead to lower profits.
Impact on the cost of financing for businesses: If the renminbi appreciates, then the cost of borrowing for businesses may increase because the interest rate on loans is usually linked to the exchange rate. In addition, since the appreciation of the renminbi may lead to a decrease in cash flow, it may also make it more difficult for companies to borrow.
Impact on the competitiveness of enterprises: If the appreciation of the renminbi leads to imported goods, then the competitiveness of domestic enterprises may be weakened to a certain extent. Conversely, if the appreciation of the renminbi makes Chinese products** more competitive, it may be beneficial to increase the market share of domestic firms.
If you want to avoid the impact of exchange rate changes, you can take the following methods: take into account the adverse changes in the exchange rate when calculating **, ** is slightly higher.
Make full use of the adjustment clause, and stipulate in the international sale of goods contract that when the fluctuation of the exchange rate exceeds a certain range, the adjustment shall be made accordingly, and the adjustment part shall be paid with the balance payment or separately.
The renminbi appreciated