China cashes in on Plummeting Pound

 
 

Online shoppers in China are cashing in on the plummeting pound by buying luxury goods from UK websites. 

Since Brexit, sterling has experienced a dramatic drop which has not been seen for over thirty years. Meaning great news for Chinese consumers with prices for British goods and services becoming remarkably cheaper. 

Today, China's largest online retailer, JD.com announced Brexit will be good for business - dedicating a whole section of it's site to selling British products to it's army of 170 million users. 

According to China Daily, Chinese e-commerce site ymatou.com has confirmed sales of European (especially British) products have doubled since the EU referendum. 

Not forgetting the impact on UK based companies - British stalwart Rolls-Royce has recorded a rise in shares by 3.3%, one of the few success stories on the FSTE since last week. The reason of it's exceptional success? It's mass appeal to foreign buyers. 

 

However, a statement from the company in The Telegraph, warns there could be trouble on the horizon. Longterm, Rolls Royce's success 'depends upon the relationships that are established between the UK, the EU and the rest of the world over the coming years'.

 

 





 

 
 
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