China's Feb. rural home appliance sales surge on subsidy

10:49, March 05, 2011      

Email | Print | Subscribe | Comments | Forum 

Sales of home appliances in China's rural areas surged 168 percent to 20.86 billion yuan (about 3.16 billion U.S. dollars) in February, driven by a subsidy program to boost consumption, the Ministry of Commerce (MOC) announced Friday.

The sales volume in the month rose 126 percent to 8.87 million units, with refrigerators and televisions the most popular appliances among Chinese farmers, the MOC said in a statement posted on its website.

The February figures brought sales in the first two months this year to 46.21 billion yuan, an increase of 141 percent year on year, while sales volume reached 19.36 million units, up 99 percent.

China started the subsidy program in February 2009 to spur rural consumption and buoy the nation's economic growth amid the global economic downturn.

Farmers can receive subsidies equal to 13 percent of the price of home appliances they purchase. Generic items covered by the program are refrigerators, televisions, mobile phones, washing machines, computers, air conditioners, water heaters, microwave ovens and traditional ovens.

China's Commerce Minister Chen Deming said in December last year that China would continue the subsidy program in 2011.

Sales of home appliances in China reached 173.23 billion yuan in 2010, up 170 percent.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
  • Survey for 2011 NPC and CPPCC Sessions
  • Focus On China
Major headlines
Editor's Pick
  • EU center-right leaders meet in Helsinki to prepare for Eurozone Summit
  • Military aircraft bring back 287 Chinese from Libya
  • Chinese leaders join panel discussions of political advisors
  • New games displayed in Game Developers Conference 2011
  • Match ball for UEFA Champions League unveiled in London
  • 12 countries' military attaches visit Preah Vihear temple
Most Popular
Hot Forum Dicussion