Home Appliance Sales in Rural China Jump 67 Percent via Subsidies in September

Sales of home appliances in rural China continued to soar in September, boosted by a nationwide subsidy program for rural consumers, according to data released by the Ministry of Commerce (MOC) on October 10.

Home appliance sales in China's countryside jumped 67 percent year-on-year to reach 24.2 billion yuan (3.8 billion U.S. dollars) in September, the MOC said in a statement posted on its website.

The volume of appliances sold in September hit 9.08 million units, up 50 percent from a year earlier, according to the MOC.

The September figure represented robust growth for China's home appliance manufacturers in the first nine months of this year.

Water heaters, air conditioners and televisions were the most popular appliances purchased in rural areas from January to September, according to the MOC data.

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

Under the program, farmers can receive subsidies equal to 13 percent of the price of the home appliances they buy.

As of the end of September this year, 189 million home appliances, or 429.9 billion yuan in total sales value, have been sold since the start of the subsidy program.

Source: Xinhua