China's H1 Rural Appliance Sales Beat 2009 Full Year

Sina Tech, 7/05/10

China's Ministry of Commerce has issued its latest statistics on the national "Appliances to the Countryside" subsidy program, showing that in June, the program sold 5.93 mln appliances, for sales of RMB 13.46 bln, up 100% and 150% year-on-year, respectively. In the first half of the year, sales volume reached 32.52 mln units, with revenue totaling RMB 67.8 bln, up 240% and 320% YoY, respectively. Sales in the first half of the year surpassed total sales for the entire year of 2009.

The top five provinces by sales were Henan at RMB 1.88 bln, Shandong at RMB 1.5 bln, Anhui at RMB 990 mln, Hebei at RMB 950 mln, and Sichuan at RMB 860 mln. Haier, Hisense (600060.SH), Midea, Skyworth (0751.HK) and TCL (000100.SZ) were among the top-selling brands.

Keywords: Appliances to the Countryside government subsidy government support government initiative national statistics hardware revenue rural Ministry of Commerce sales volume home appliances

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