风险“减压阀”：看汇率管理如何助企行稳致远

Core Viewpoint - Chinese enterprises are increasingly expanding into overseas markets, but they face significant financial risks due to global currency fluctuations. The introduction of the "Action Plan" aims to enhance cross-border financial services and promote the concept of currency risk neutrality among businesses [2][3]. Group 1: Currency Risk Management - The recent volatility in the foreign exchange market has made it difficult for companies to predict currency movements, leading to a reluctance to engage in currency hedging [3][4]. - The proportion of foreign trade enterprises in China utilizing foreign exchange hedging has increased from 21.7% in 2021 to 27% in 2024, indicating a growing willingness to manage currency risks [5]. - Companies are increasingly seeking advice from banks on currency risk management, with some banks providing tailored hedging solutions and training to help businesses understand the benefits of hedging [4][6]. Group 2: Cost Considerations - Small and medium-sized enterprises (SMEs) often face pressure from costs associated with currency hedging, which can deter them from utilizing these financial instruments [6]. - The government has initiated measures to reduce the costs of foreign exchange hedging for SMEs, including subsidies for guarantee fees and encouraging banks to offer competitive quotes [6][7]. - A case study of a bearing machinery company illustrates how a bank's policy-backed hedging service allowed the company to convert unused loan amounts into hedging products without incurring additional costs [7]. Group 3: Innovative Financial Solutions - The "Action Plan" emphasizes the need to optimize currency risk management services and improve the capabilities of enterprises to respond to foreign exchange risks [8]. - A new financing scheme developed by a bank allows companies to convert high-cost foreign currency liabilities into lower-cost, controlled-risk RMB liabilities, effectively managing financing costs and risks [8][9]. - This innovative approach includes locking in exchange rates for future payments, thereby mitigating potential risks associated with currency fluctuations and interest rate changes [9].