Backed by a strong external demand, China’s home appliance exports enjoyed a V-shaped recovery last year, with exports rising by 20.6 per cent year on year in the first 11 months of 2020. Photo: Reuters
China’s home appliance manufacturers left cursing export orders as costs rise, profits vanish amid yuan rally
- Lockdowns and work from home arrangements in the West have increased the demand for home appliances manufactured in China
- But a strong yuan is causing profits to decline, with firms also under pressure from soaring metal prices
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Backed by a strong external demand, China’s home appliance exports enjoyed a V-shaped recovery last year, with exports rising by 20.6 per cent year on year in the first 11 months of 2020. Photo: Reuters
