Trade-in policy spur development of home appliance consumption in China

BEIJING: The business indicators of listed companies in household appliances sector showed a positive trend in the first half of this year, as China has scaled up its efforts to advance the trade-in policy, fueling the development of home appliance industries. According to China Central Television (CCTV), the business revenue of listed companies in the sector reached 830 billion yuan (approximately US$116.72 billion) during the first six months of the year, reflecting a nearly 5.9 percent increase compared to the previous year. The net profit for these companies surpassed 61.8 billion yuan (around US$8.69 billion), marking an increase of over 6.5 percent year on year, as detailed in the 2024 semi-annual reports of listed companies. "Direct visits to listed companies and exchanges with them, as well as surveys by visiting some offline home appliance stores, have showed a significant growth compared to last year," said Rong Zeyu, Chief Analyst of the China Great Wall Securities. Source: Emirates News Agenc y