宣化钢铁集团有限责任公司是国家大中型钢铁企业,自2001年开始,为配合企业上规模上水平,设备更新改造和技术改进的节奏加快,进出口贸易额大幅度增加,而贸易过程中潜在的外汇风险也在加剧。为规避风险,宣钢利用远期外汇结售汇、押汇、期权等金融工具对宣钢自营进出口货物包括成套设备、备件以及大宗原料等进口贸易适时采用不同的金融工具进行外汇风险管理,取得了显著成效。在2001～2003年总贸易额约35亿元人民币的项目中比较敞口管理和风险管理的差距,产生直接经济效益1968.1万元人民币。同时宣钢整体外汇风险管理水平也不断提高,不仅较大程度地应用了中国金融体系下现有的金融工具,同时也为在未来进一步开放的汇率体制下进行国际 Xuanhua Iron and Steel Group Co., Ltd. is a state-owned large and medium-sized iron and steel enterprise. Since 2001, in order to tie in with the scale of enterprises, the pace of equipment renovation and technological improvement has been accelerated, the import and export trade volume has risen sharply, and the potential trade Foreign exchange risk is also exacerbating. In order to avoid risks, XuanCang used different financial instruments such as forward foreign exchange settlement and sales, billings and options to conduct foreign exchange risk management on the import trade of Xuanhua’s self-supporting import and export goods including complete sets of equipment, spare parts and bulk raw materials timely , Achieved remarkable results. In the 2001-2003 total trade volume of about 3.5 billion yuan of the project to compare the gap between open management and risk management, resulting in direct economic benefits 19,681,000 yuan. At the same time, the overall level of foreign exchange risk management in Xuanhua Steel has also been continuously raised. Not only has the financial instruments under China’s financial system been used to a large extent, but also the international exchange rate system under the future opening up