Guess what's cooking in China? 🍳 A record-breaking surge in home appliance sales in 2024 has everyone buzzing! Thanks to a cool trade-in scheme backed by the government, folks are upgrading their gadgets like there's no tomorrow.
So, here's the tea: retail sales of home appliances and audio-visual gear hit a whopping 1.03 trillion yuan (that's about $143.29 billion!). 🤯 It's the first time ever that sales crossed the 1 trillion yuan mark, showing a sizzling 12.3% growth from last year.
Over 37 million savvy shoppers snagged subsidies for their new home goodies, according to the Ministry of Commerce. The program went viral faster than a meme—it took just 33 days to get a million participants, and then skyrocketed to five million in just 17 days more! 🚀
Eco-friendly is the new black! ♻️ Energy-efficient products were the stars of the show, with over 90% of the sales revenue coming from top-tier energy-saving items. Mother Earth approves! 🌍💚
Back in March 2024, China dropped an action plan to jazz up consumer spending and kickstart economic growth. They rolled out massive equipment upgrades and trade-ins for consumer goods, nearly 15 years after the last big refresh. Talk about leveling up! 🎮
And the fun doesn't stop there! To keep the momentum going, China is expanding the list of appliances eligible for government subsidies. In 2025, microwaves, water purifiers, dishwashers, and rice cookers (yes, please! 🍚) are joining the party, bumping the categories from eight to twelve.
With these electrifying moves, China is not just upgrading appliances but also sparking joy and boosting the economy. Can't wait to see what new gadgets hit the shelves next! 🔌✨
Reference(s):
China's home appliance sales surge in 2024 under trade-in scheme
cgtn.com
