October 14, Sales of home appliances in rural China soared during the first three quarters, boosted by a nationwide subsidy program for Chinese rural consumers, according to data released by the Ministry of Commerce.
The sales value of home appliances covered by the rural subsidy program tripled year on year to RMB 115.84 billion from January to September, according to a statement on the MOC website.
During this period, the sales of home appliances in the countryside reached 52.57 million units, an increase of 150% from one year ago.
China started the subsidy program in February 2009 to stimulate rural consumption and buoy the nation's economic growth amid the global economic downturn.
Under the program, Chinese farmers could receive subsidies equal to 13 percent of the price of about 20,000 designated types of refrigerators, televisions, washing machines, computers, air conditioners, mobile phones, water heaters, microwave ovens and traditional ovens.