Exporters hit hard by rising yuan

This is the sixth consecutive month that the index has broken its record since it was launched since 1994.

Shen Danyang, spokesman for the Ministry of Commerce, said on Thursday that the rise of the yuan has dented exporters' long-term business confidence.

Many foreign trade experts have called for delaying the further liberalization of the exchange rate-forming mechanism, in order to mitigate the negative impact on China's exporters. But some other experts said the reform should be pushed forward.

Li Gang, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce, said opinions differ on whether the exchange rate should be allowed to fluctuate within a wider range. "The government should set a long-term goal as to whether and when the renminbi should be made convertible under capital accounts," Li said.

Zhou Shijian, a trade expert at Tsinghua University, said the only way for Chinese enterprises to survive is to improve the quality of their products and climb up the value chain.