Imagine you are the Chief Financial Officer $($CFO$)$ of a Tanzanian manufacturing company that imports raw materials from China to produce consumer goods for the domestic market. Develop a forex risk management plan to hedge the company's currency exposure to fluctuations in the Chinese yuan $($CNY$)$ against the Tanzanian shilling $($TZS$).$ Evaluate different hedging instruments, such as forward contracts, options, and currency swaps, and recommend the most suitable strategy based on the company's risk appetite, cash flow requirements, and market outlook.