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China banks stockpile record $1 trillion of foreign exchange
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China Banks Stockpile Record $1 Trillion of Foreign Exc
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China Made 40 Face Masks for Every Person Around The World Bloomberg 1/14/2021 Bloomberg News © Bloomberg An employee works on the assembly line to make protective masks at a factory operated by Dasheng Health Products Manufacturing Co. in Shanghai, China, on Friday, Jan. 31, 2020. People across the globe are stockpiling facial masks to protect themselves from the new coronavirus, depleting online malls and store shelves from California to Beijing.
(Bloomberg) China’s export dominance during the coronavirus pandemic is best reflected by the item that’s become essential in protecting against the virus: face masks.
Factories exported 224 billion of masks from March through December, equal to almost 40 masks for every person in the world outside of China, Li Kuiwen, an official from the General Administration of Customs, told reporters Thursday. The shipments were worth 340 billion yuan ($52 billion), which is about 2% of all Chinese exports in 2020.
China’s export dominance during the coronavirus pandemic is best reflected by the item that’s become essential in protecting against the virus: face masks. Factories exported 224 billion of masks from March through December, equal to almost 40 masks for every person in the world outside of China, Li Kuiwen, an official from the General Administration of Customs, told reporters Thursday. The shipments were worth 340 billion yuan ($52 billion), which is about 2% of all Chinese exports in 2020. Chinese firms also exported almost 100 billion-yuan worth of other personal protective equipment, Li said. In total, exports of medical equipment and medicines rose 31% last year compared to 2019, he said.