Just as Chinese domestic exporters suffer from not getting orders from Europe, European importers also have a headache about the price rise of "made in China" caused by the depreciation of the euro. Youdan, who runs a home appliance store in Hamburg, Germany, said that taking a Chinese made TV set that used to cost 300 euros as an example, consumers now need to pay about 50 euros more.
Youdan said that in recent years, Chinese household appliances have become more and more popular, and Huawei, Xiaomi, Haier, Hisense and other brands have become relatively well-known among German consumers. Since the COVID-19, Chinese household appliances have often been out of stock. Youdan said that the depreciation of the euro is definitely not good news for pure sellers like them. In particular, with the current soaring prices in Germany, consumers will reduce the purchase of non urgent goods, and electrical appliances are often delayed or cancelled.
"The depreciation of the euro also has a great impact on China EU trade." Rudig, head of an import and export trading company in Cologne, Germany, said that a few months ago, the euro had depreciated to less than 1 euro to 7 yuan, and then rebounded. At present, it has fallen to about 6.8 yuan to 1 euro to RMB, which has affected Germany's imports of "made in China", but it is a good thing for Chinese consumers.
Rudig made an example. For example, the export price of a bottle of German Riesling wine is 3.5 euros. A few weeks ago, it was still equivalent to 25.2 yuan, but now it is 23.7 yuan. Chinese customers can save 1.5 yuan. Rudig said that his business will be adjusted according to the exchange rate. When the euro depreciates, he will increase exports to China; When the euro appreciates, imports of "made in China" will be increased.
However, yodan also mentioned that while the euro depreciated, the container transportation cost from China to Europe has been greatly reduced recently. At present, the price of 40 foot containers shipped from Shanghai to Hamburg has fallen below 7000 euros, compared with more than 10000 euros in the second half of last year, which allows European importers to keep some goods from rising prices.
Of course, the factors affecting China EU trade are not just exchange rate changes. According to the data released by the General Administration of Customs of China, in the first half of this year, China's total imports and exports to the EU reached 2.71 trillion yuan, an increase of 7.5%. The news released by China Railway Group also showed that from January to June this year, 7473 China Europe trains were operated and 720000 TEUs were sent, with a year-on-year increase of 2% and 2.6% respectively, and the comprehensive heavy container rate reached 98%. According to yuxinou company, one of the operators of China Europe train, since the freight of China Europe train is mainly settled in US dollars, no significant impact has been seen.
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