Standard & Poor's recently downgraded the long-term U.S. credit rating from AAA to AA+ with a negative outlook. In fact, the agency downgraded not only the rating of U.S. debt but also the rating of the country's political and economic governance capacity. It has influenced the currency exchange rate and trade. As the world factory of commodities, China-based manufacturers and suppliers worry that the rapid appreciation of the RMB will inevitably be a barrier for trade.

Trade of Christmas Products Is Settled in RMB in Yiwu Market

As the chair person of Yiwu Christmas Product Industrial Guild, Mr. Chen Jinlin told, 90% of the member enterprises have required RMB settlement in trade. Chen told Onccc that Christmas Product Industry is a special industry in Yiwu market. The trade of Christmas products seems promising this year, and most of the suppliers require settlement in RMB, which ensures a safe trade for Yiwu enterprises. Most of the foreign purchasers expressed their understanding over this issue.