As the largest wood-based panel producing and exporting country, China has experienced sharp reductions in the growth rate of its wood-based panel exports because of pressure caused by exchange-rate fluctuation. These fluctuations were exacerbated by the global financial crisis. China's wood-based panel exporters need to adjust their pricing strategy to cope with the changes of international market conditions. Thus, it is necessary to investigate the relationship between exchange-rate fluctuation and the pricing behavior of China's wood-based panel exporters. To evaluate the impact of the exchange rate on China's wood-based panel export prices across multiple destinations, a pricing- to-market model incorporating panel data was used. The empirical results suggest that although complete exchange-rate pass- through exists widely in China's wood-based exports, China's fiberboard and plywood exporters tended to adopt different pricing strategies in the international wood-based panel market during the post-crisis era. China's fiberboard exporters often used the pricing-to-market model to determine prices in the main export destination countries, while China's plywood exporters tended to amplify the exchange-rate effects. This indicates that China's plywood exporters have stronger international market power than China's fiberboard exporters, partly because China's plywood exporters have more advantages in terms of skilled labor. Key words: wood-based panels, exchange-rate fluctuation, export price, pricing to market, China. En tant que premier pays producteur et exportateur de panneaux a base de bois, la Chine a connu de fortes reductions du taux de croissance de ses exportations de panneaux en raison de la fluctuation du taux de change. Ces fluctuations se sont accentuees en raison de la crise financiere mondiale. Les exportateurs chinois de panneaux a base de bois doivent ajuster leur strategie de tarification pour resister aux changements du marche international. Ainsi, il est necessaire d'examiner la relation entre la fluctuation du taux de change et le comportement des prix des exportateurs chinois de panneaux a base de bois. Pour evaluer l'impact du taux de change sur les prix a l'exportation des panneaux chinois en fonction de differentes destinations, un modele de tarification en fonction du marche qui incorpore des donnees d'exportation de panneaux a ete utilise. Les resultats empiriques indiquent que malgre l'existence de frequentes repercussions des fluctuations du taux de change sur les exportations chinoises de panneaux a base de bois, les exportateurs de panneaux de fibres et de contreplaques ont eu tendance a adopter des strategies de tarification differentes sur le marche international des panneaux a base de bois durant la periode qui a suivi la crise. En Chine, les exportateurs de panneaux de fibres ont souvent utilise la tarification en fonction du marche pour determiner les prix dans les principaux pays d'exportation tandis que les exportateurs de contreplaques ont eu tendance a amplifier les effets des variations du taux de change. Cela montre que les exportateurs de contreplaques chinois ont plus de pouvoir sur le marche international que les exportateurs de panneaux de fibres, en partie parce que les exportateurs de contreplaques chinois ont plus d'avantages en termes de main-d'oeuvre qualifiee. [Traduit par la Redaction] Mots-cles: panneaux a base de bois, fluctuation du taux de change, prix a l'exportation, prix du marche, Chine., 1. Introduction China's wood-based panel industry has developed rapidly since the 21st century, and China has become the largest wood-based panel producer and exporter in the world. Wood-based panel exports [...]