BUSINESS China's home appliance sector reports steady growth in 2019

BUSINESS

China's home appliance sector reports steady growth in 2019

Xinhua

18:12, April 07, 2020


Employees work on the washing machine production line of Haier Group in Qingdao, East China's Shandong province, on Feb 27. (Photo: China Daily)

BEIJING -- China's home appliance industry grew steadily last year, data from the Ministry of Industry and Information Technology (MIIT) showed.

Total revenue of home appliance companies hit 1.6 trillion yuan (about $226 billion) during the period, up 4.3 percent year on year, according to the MIIT.

The sector's profit surged 10.9 percent year-on-year to reach 133.87 billion yuan in 2019, MIIT data showed.

In 2019, China's output of refrigerators, air conditioners and washing machines reported year-on-year growth of 8.1 percent, 6.5 percent and 9.8 percent, respectively.

To further boost home appliance consumption, China has introduced incentives to support consumers to replace old home appliances and electronics with greener and smarter alternatives.

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