The bottom line is that given our projections of a pickup in US and global growth, a stable exchange rate at a lower level and ongoing technological change,  - 19 especially in the digital economy, service exports will play an increasingly important role in our export growth.
In the case of exchange rate reform, a stronger yuan is likely to affect the price competitiveness of exporters, but is a favorable change to enterprises that import large quantity of raw materials and semi-finished goods to  2  BIS Review 103/2010  meet domestic demand.