A Study On The Management Of Exchange Rate Risk In Shipbuilding Enterprise

China has already become one of the world's largest shipbuilding countries after many years of efforts. Because the shipbuilding industry has a high export rate and equipment import rate, and with the accelerating process of internationalization in shipbuilding industry and the reform of RMB exchange rate regime in China, the impact of foreign exchange rate changes the growth of shipbuilding enterprises, especially in the latter half of 2008 under the influence of the global financial turmoil,the international shipping market declined rapidly, the world shipbuilding market is in continuous recession, especially the current economic situation is not very optimistic, the management of exchange rate risk has become the primary problem which urgently need to face and solve for Export-oriented shipbuilding enterprises in China. Based on the basic theory of exchange rate risk, we make a case study on typical private shipbuilding company——Yangfan Group Co., Ltd. to analyze the problem of exchange rate risk management, and discuss how to manage the exchange rate risk in shipbuilding enterprise.The first part of this paper mainly introduces the topic background and significance of the article, and gives a simple review and retrospective evaluation on the theoretical research of the risks associated with exchange rate at home and abroad, illustrates the main content and research methods.The second part describes the basic theory of exchange rate risk, analyzes exchange rate risk's form and features in shipbuilding enterprises, and the status quo affected by exchange rate fluctuations.The thirdpart takes a private shipbuilding enterprises——Yangfan Group Co., Ltd. as an example, analyzes the management of domestic exchange rate risk where Yangfan exists, and basically raised the problems on the aspect of risk prevention and control.The fourth chaptercombines the preceding elaboration on Yangfan's practical experience in managing exchange rate risk with their own shipbuilding industry characteristics,the author put forward the specific Suggestions on management of exchange rate risk from the macro and micro level.Finally come to the conclusion that since the economic globalization and the fluctuations of RMB exchange rate, according to their own industry characteristics and actual situation, the shipbuilding enterprises should enhance the prevention awareness of exchange rate risk and abilityto resist it, in order to reduce the loss of exchange rate riskas far as possible, and create the possibility of currency gains at the same time.