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Chinese firms mixed over yuan's expected depreciation against dollar | Hellenic Shipping News Worldwide

Chinese firms mixed over yuan's expected depreciation against dollar | Hellenic Shipping News Worldwide
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Prices of China's home appliances soar by 10-20% after Spring Festival holiday

SOURCE / ECONOMY
US fiscal policy, disruption of microchip supplies contribute to trend
By GT staff reporters Published: Mar 04, 2021 09:43 PM
People buy heaters at a store of e-commerce platform Suning in Kunming, Southwest China s Yunnan Province on January 11. Photo: cnsphoto
Home appliance prices in China have risen, since the Spring Festival holiday ended, an unusual development driven by the soaring costs of raw materials such as steel and plastic, the global microchips supply disruption, and even US fiscal policy s impact on the value of the dollar.
Nonetheless, Chinese home appliance makers export orders have remained largely resilient.
News of record-high appliance prices went viral online and became a trending topic on Sina Weibo, a Twitter-like social media platform. In previous years, home appliance prices often drop after the festival, along with Chinese consumer spending. ....

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