Thursday, July 22, 2010

Rising yuan pushes China's exporters to innovate and introduce tech

A strengthening yuan is forcing China's exporters to move up the value chain and become more innovative, said Zhang Yansheng, a researcher for the National Development and Reform Commission. Ge Yafang, head of Black Peony, which exports clothing to the U.S. and Japan, said if the firm hadn't shifted from dependence on cheap labor to a technology-driven operation, the rising yuan would haven driven it into bankruptcy.

An opportunity for US companies to gain sales in China?

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