Chinese citizens show love for local brands by paying exorbitant prices

Last Updated: Jun 11 2019 15:49
Reading time: 0 mins, 46 secs

Citizens in China are willing to pay Rs 5,000 for a cup of tea to show their love for local brands amid trade war with USA.

Residents are paying as much as 500 yuan (over Rs 5,000) for a cup of tea which normally sells for 19-23 yuan in the black market.

As per a report by South China Morning Post, “At a time when more than US$300 billion worth of Chinese exports to the United States face increased tariffs of 25 per cent, milk tea by storied Shanghai brand White Rabbit is selling at a premium of about 2,000 per cent – all in the name of national pride.”

Shoppers are queuing up four to five hours for a cup, giving touts the opportunity to sell a normal cup for about 100 yuan.