China’s home appliance sales surge in 2024 under trade-in scheme
China Economic Net
Beijing: China’s sales of home appliances surged in 2024 under its policy-backed trade-in program, according to the Ministry of Commerce (MOC) on Saturday.
Retail sales of home appliances and audio and visual equipment under the scheme reached 1.03 trillion yuan (about 143.29 billion U.S. dollars) in 2024, according to data from the National Bureau of Statistics. This marks the first time the figure has surpassed the 1 trillion yuan threshold and represents a 12.3 percent year-on-year growth.
More than 37 million consumers benefited from subsidies for their home goods purchases,
