Chinese companies cut production, pushing up prices on electronic devices

BEIJING: The festival season sale of e-commerce companies is set to begin in India. If you are also waiting to buy cheap goods at the festival season sale this time may be a tweak. Chinese consumer electronics companies have had to reduce their production by up to 50 per cent. As Chinese items are widely used in electronic devices in India, prices are likely to increase in the near future. This is expected to affect the supply of the component ahead of the festival season in India due to the decline in production in China.

In addition to declining production in China, the only reason for the disruption in festival sales of e-commerce companies is that in the last few days, the global freight crisis has led to a 40 per cent increase in freight rates. It has doubled in the last six months. Companies say the increase in rents has made it necessary for them to increase the price of the product. About 70-80% of the components of electronic goods made in India are imported from China.

Operations at Shanghai's Pudong International Airport have been suspended on August 31 this year. Ground handling service has been suspended indefinitely by Shanghai International Airport Services, a ground handling company under the Covid-12 quarantine policy.

The move comes after Corona's case came to light among many workers handling international flights. Work on the Meshan container terminal in Ningbo Josham, China, has also been suspended. Industry experts say China is pursuing a zero-tolerance policy after being exposed to the corona virus at ports and airports. Shanghai and Ningbo can be said to be the largest shipment gateways in terms of goods sent abroad from China. China's 12 largest ports and airports are operating at only 30 to 40 per cent of their capacity this month.

It also includes areas such as Beijing and Shenzhen, according to Chinese media reports. Other ports and airports operating in China have become overcrowded due to the Quid 15 quarantine policy. It includes areas such as Hong Kong and Shenzhen. Here the waiting date for shipping goods is increasing and the airlines are constantly canceling their flights.