China's Home Appliance Sales Surge Under Trade-in Policy
Government initiatives see over 34 million consumers participate in a home appliance trade-in scheme, resulting in significant market growth.
BEIJING, May 22 -- China’s home appliance market has experienced robust growth in the first four months of 2025, bolstered by government policies promoting trade-ins of key consumer goods as stated by the Ministry of Commerce.
According to official data, more than 34 million consumers engaged in the home appliance trade-in program during this period, resulting in the purchase of 51 million units across 12 categories of household appliances.
This initiative has successfully generated sales totaling 174.5 billion yuan (approximately 24.27 billion U.S. dollars), according to ministry spokesperson He Yongqian at a recent press conference.
The ministry reported that sales of home appliances and audio equipment have demonstrated impressive double-digit growth for eight consecutive months, with a notable year-on-year increase of 38.8 percent recorded last month.
This growth is the highest among 16 major consumer categories tracked by the ministry.
The trade-in policy, first announced in the previous year, aims to stimulate consumer spending by providing subsidies for the exchange of automobiles, home appliances, and home decor items.
The program was expanded earlier in the current year to further boost its impact on the market.
In addition to the trade-in program, overall retail sales of household appliances and audio-visual equipment by monitored firms reached 346.9 billion yuan, reflecting a year-on-year increase of 23.9 percent, which significantly exceeds the average growth rate of total retail sales in the country.
Data from third-party market research institutions indicated that offline sales of specific appliance categories such as water purifiers, range hoods, gas stoves, and dishwashers saw growth rates of 45.3 percent, 42 percent, 40.4 percent, and 25 percent, respectively, during the same four-month period.
The ongoing policies and market dynamics underscore the Chinese government's commitment to invigorate the home appliance sector and enhance consumer confidence, contributing positively to the overall economy.
According to official data, more than 34 million consumers engaged in the home appliance trade-in program during this period, resulting in the purchase of 51 million units across 12 categories of household appliances.
This initiative has successfully generated sales totaling 174.5 billion yuan (approximately 24.27 billion U.S. dollars), according to ministry spokesperson He Yongqian at a recent press conference.
The ministry reported that sales of home appliances and audio equipment have demonstrated impressive double-digit growth for eight consecutive months, with a notable year-on-year increase of 38.8 percent recorded last month.
This growth is the highest among 16 major consumer categories tracked by the ministry.
The trade-in policy, first announced in the previous year, aims to stimulate consumer spending by providing subsidies for the exchange of automobiles, home appliances, and home decor items.
The program was expanded earlier in the current year to further boost its impact on the market.
In addition to the trade-in program, overall retail sales of household appliances and audio-visual equipment by monitored firms reached 346.9 billion yuan, reflecting a year-on-year increase of 23.9 percent, which significantly exceeds the average growth rate of total retail sales in the country.
Data from third-party market research institutions indicated that offline sales of specific appliance categories such as water purifiers, range hoods, gas stoves, and dishwashers saw growth rates of 45.3 percent, 42 percent, 40.4 percent, and 25 percent, respectively, during the same four-month period.
The ongoing policies and market dynamics underscore the Chinese government's commitment to invigorate the home appliance sector and enhance consumer confidence, contributing positively to the overall economy.
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