Caixin: Europeans buy Chinese heaters because of high electricity prices

BEIJING, September 14 – RIA Novosti. Rising energy prices in Europe led to a boom in cheap Chinese goods like electric blankets and electric heaters. informs Chinese financial publication Caixin.

The newspaper writes that the sanctions imposed by some European countries on gas supply from Russia have caused electricity prices to rise rapidly in the European continent and to the emergence of supply problems.

China’s Chengdu Rainbow Appliance (Group) Equity Co., Ltd. Ltd. Caixin said the company has received a large number of orders for electric blankets, “because the energy crisis in Europe has made these energy-efficient products more attractive.”

Citing data from analysts at Guosen Securities Co. Ltd. The publication published by the publication reports that European consumers are the main driver of the significant increase in sales of Chinese-made air source heat pumps, as they are a more efficient heat source than gas heaters.

However, the publication states that sales growth is only observed among certain categories of goods, with overall exports of electrical appliances from China to Europe falling by 9.3% year-on-year in the first seven months of 2022. As the reason for the decline, the publication cites supply cuts due to the situation in Ukraine and inflation.

The West has increased the pressure on Russia to impose sanctions on Ukraine, which has caused electricity, fuel and food prices to rise in Europe and the United States. Russian President Vladimir Putin has previously stated that the policy of controlling and weakening Russia is a long-term strategy of the West and that the sanctions have dealt a serious blow to the entire global economy. According to him, the main purpose of the West is to make the lives of millions of people worse.