In the context of a global economic recession and continued slowing of domestic economic growth, RMB depreciation would benefit export enterprises such as textiles, apparels, electronics, appliances, toys, footwear, hats, furniture, building materials, and engineering machinery. However, it would have negative effects on the aviation sector and papermaking industry. According to reports, yesterday, the spot market exchange rate of RMB against the US dollar continued to weaken, dipping several times to the circuit breaker line during trading hours. The overnight weak fluctuations of the euro dragged down the opening price of the RMB central parity, leading to a decline in the spot exchange rate. Yesterday, the central parity rate of RMB against the US dollar was 6.3349, compared to 6.3310 last Friday. In the inquiry-based trading system, the RMB closed at 6.3641, compared to 6.3597 in the previous trading day. Under the expectation of RMB depreciation, the impacts on listed companies in various sectors and industries vary. For enterprises that mainly export products but procure raw materials domestically, especially those with high export dependence, RMB depreciation would help stabilize their operations. Beneficial industries include textiles, apparels, electronics, appliances, toys, footwear, hats, furniture, building materials, and engineering machinery. Research shows that for every 1% appreciation of the RMB, the sales profit margin of the textile industry decreases by 2%-6%. Statistical data indicates that the export dependence of cotton textiles, wool textiles, and apparels are 20%, 27%, and 60%, respectively. Currently, the average net profit margin of the entire textile industry is only 3%-4%. Moreover, China's textile and apparel enterprises are mainly composed of small and medium-sized enterprises (SMEs). Given the current difficulties in financing for SMEs, the recent acceleration of RMB appreciation has been like adding frost to snow. Although some large textile enterprises have hedged against future receipts, locking in the cost of company settlements in advance, it is difficult to completely offset the increase in export costs caused by RMB appreciation. If the RMB depreciates, the textile industry would benefit significantly. This article is from Fashion Coordination Network (http://www.daban.org.cn), please indicate the source if reprinted.