The Chinese government recently moved to crack down on scalpers trying to take advantage of a nationwide subsidy program that was designed to fuel home appliance sales in rural areas.
Sales revenue of home appliances in rural China last month surged 179 percent year-on-year to 34.48 billion yuan ($5.3 billion), boosted by a nationwide subsidy program for rural consumers, official data showed Wednesday.
Suning Appliance Co, China's biggest home appliance retailer by market value, witnessed a 38.82 percent year-on-year net profit jump in 2010.
China's old-for-new home appliance subsidy program has to date stimulated 152.12 billion yuan ($23.17 billion) in sales, with televisions and air-conditioners the most popular of the five designated products, the Ministry of Commerce (MOC) said Tuesday.
Sales of home appliances in China's rural areas surged 168 percent to 20.86 billion yuan ($3.16 billion) in February, driven by a subsidy program to boost consumption, the Ministry of Commerce (MOC) announced Friday.
Sales of home appliances in China's rural areas surged 168 percent to 20.86 billion yuan ($3.16 billion) in February, driven by a subsidy program to boost consumption, the Ministry of Commerce (MOC) announced Friday.
Robust sales of home appliances across the nation's rural areas sent manufacturers' share prices higher Monday. Meanwhile, analysts believe that "white goods" such as air conditioners and refrigerators will edge out "black goods" such as television sets due to the former being a less saturated market.
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