Home Appliances Sales in Rural Subsidy Program up 320%-Shanghai Metals Market

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Home Appliances Sales in Rural Subsidy Program up 320%

Data Analysis 09:48:55AM Jul 05, 2010 Source:SMM

BEIJING, July -- Sales of home appliances in China's vast countryside under the government's rural subsidy program surged 320 percent in the first six months year on year, said China's Ministry of Commerce (MOC) Friday.

Total sales soared to 67.8 billion yuan ($10 billion) from January to June, up from the 64.7 billion yuan registered for the whole year of 2009, said a statement on the website of the MOC.

Further, the sales volume topped 32.52 million units, up 240 percent year on year, the MOC said.

Sales in June reached 5.93 million units, which were valued at 13.46 billion yuan, up 100 percent and 150 percent respectively from a year earlier, the statement said.

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

Farmers have received subsidies equal to 13 percent of the price of designated brands of refrigerators, televisions, mobile phones, washing machines, computers, air conditioners, water heaters, microwave ovens and traditional ovens.

Earlier this year, another six kinds of home appliances, including electric bikes, smoke exhaust ventilators, gas stoves, pressure cookers, electric cookers and DVD players, were added to the subsidy program.
 

Home Appliances Sales in Rural Subsidy Program up 320%

Data Analysis 09:48:55AM Jul 05, 2010 Source:SMM

BEIJING, July -- Sales of home appliances in China's vast countryside under the government's rural subsidy program surged 320 percent in the first six months year on year, said China's Ministry of Commerce (MOC) Friday.

Total sales soared to 67.8 billion yuan ($10 billion) from January to June, up from the 64.7 billion yuan registered for the whole year of 2009, said a statement on the website of the MOC.

Further, the sales volume topped 32.52 million units, up 240 percent year on year, the MOC said.

Sales in June reached 5.93 million units, which were valued at 13.46 billion yuan, up 100 percent and 150 percent respectively from a year earlier, the statement said.

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

Farmers have received subsidies equal to 13 percent of the price of designated brands of refrigerators, televisions, mobile phones, washing machines, computers, air conditioners, water heaters, microwave ovens and traditional ovens.

Earlier this year, another six kinds of home appliances, including electric bikes, smoke exhaust ventilators, gas stoves, pressure cookers, electric cookers and DVD players, were added to the subsidy program.