Chinanews, Beijing, May 11 – On Tuesday, Renminbi's exchange rate against the dollar hit the 7.7 mark to reach a new high since the exchange rate regime. Renminbi value seems to rise at a faster speed than before and this has brought significant changes to China's employment and China's foreign currency exchange system, the Legal Evening News reported.On employment issue, the Ministry of Labor and Social Security recently released a report to assess the impact of Renminbi appreciation on China's employment. According to this report, Renminbi appreciation will mainly bring negative impact on China's employment. Industrial sectors that are most affected by Renminbi appreciation are textiles, clothes making, shoemaking, toys, motorcycles and agricultural sectors. When Renminbi appreciates by 5-10%, it means that 3.5 million workers in the non-agricultural sectors will lose their jobs. Meanwhile, employment situation for millions of farmers will also be affected.The exchange rate will bring negative consequences to the trade volume and the price index of domestic goods. This will not only discourage foreign investors' access to China, it will also affect the business performance of Chinese export companies, which will finally affect China's employment, said Tan Yaling, a financial expert.As Renminbi appreciation process quickens, those people who have saved a large amount of US dollars and do not plan to go abroad for study or sightseeing, should now exchange their US dollars for Renminbi as quickly as possible, Tan said.