Currency exchange rate
On 1st Sep 2017 currency exchange rate US dollars to RMB goes down to 6.59, this is the lowest point in year 2017. In past month, currency exchange rate from 6.80 in May and now only reached to 6.59 during 4 months. It seems that most of the manufactures in China bear tremendous pressure, in early 2017, we are under the cost of raw material increased, like backing fluorescent fabric, reflective fabric, packaging, labor cost… in summer season, there are environment storms in China, lots of factory is limited in production. Now currency rate goes down to lowest point, it is hard for international business, some of the suppliers said there is no choice but to increase some price with their clients, business is harder than before.
For Chinastars, we also have above problems, no matter for high visibility safety vest or reflective material, price still keep same among all the clients. For clients, they wish to get cheap price and better quality too; as manufacturer, they want to have some profit to keep company alive, so we are try our best to reduce some profit in outside and meet client’s requirement as much as we can.
Some of clients will ask to keep same price at 7 years, which seems hard, no one knows what will happen in next 7 years, even one or 2 years.
Whatever, we have to face the problem everyday and wish situations will be better in coming months. Anymore products and news please come to www.chinareflective.com.