Chinese manufacturers are cashing in off coronavirus pandemic
April 2, 2020 | BPR Wire
Peter Hasson, DCNF
Chinese manufacturers of medical masks are cashing in on the coronavirus pandemic that started in their country. Chinese manufacturers are seeing profits spike as global demand for masks and other medical equipment has reached a fever pitch.
Nearly a fifth of mask manufacturers in the country only jumped into the business after January, the Financial Times reported, citing official data.
“A mask machine is a real cash printer,†Shi Xinghui, a sales manager of an N95 mask manufacturer in China, told Agence France-Presse.
“The profit of a mask now is at least several cents compared to less than one in the past,†Xinghui added. “Printing 60,000 or 70,000 masks a day is equivalent to printing money.â€
Mask-making machines “pay for themselves in 15 days,†the owner of another Chinese mask manufacturer told AFP.
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