China’s home appliance sector sees steady Q1 growth

2019-06-10
Xinhua

BEIJING — China’s home appliance sector saw steady revenue growth in the first quarter (Q1) of this year, official data showed.

Total revenue reached 367.74 billion yuan ($53.18 billion) during the Jan-March period, up 7.4 percent year-on-year, according to the Ministry of Industry and Information Technology.

The industry’s net profit totaled 21.8 billion yuan, increasing 23.3 percent year-on-year.

About 18.37 million sets of refrigerators were sold during this period, up 4.7 percent year-on-year, while sales of air-conditioners and washing machines grew 13.3 percent and 1.8 percent respectively.

Output of refrigerators, air-conditioners and washing machines stood at 7.36 million, 24.07 million and 6.61 million sets respectively in Q1.