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China's home appliance sector sees steady profit growth

Other News Materials 26 October 2019 08:50 (UTC +04:00)
China's home appliance sector saw steady profit growth in the first eight months of the year, official data showed
China's home appliance sector sees steady profit growth

China's home appliance sector saw steady profit growth in the first eight months of the year, official data showed, reports Trend referring to Xinhuanet.com.

The industry's total profit amounted to 79.9 billion yuan (about 11.3 billion U.S. dollars) during the January-August period, up 14.9 percent year on year, according to the Ministry of Industry and Information Technology.

Revenue came in at 1.05 trillion yuan, up 4.7 percent from the same period last year.

About 57.4 million sets of refrigerators were sold during this period, up 2.8 percent year on year, while sales of air-conditioners and washing machines grew 8 percent and 6.8 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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