China's home appliance sector sees steady Q1 growth

Time: 2019-06-10
Summary: China Market

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 U.S. dollars) 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.

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