Replacement Sales Provide Growth Momentum for the Chinese AC Industry

In the 2019 refrigeration year (RY, ending July 2019), China’s air conditioner sales suffered a year-on-year drop on both a value and volume basis. According to statistics from the State Information Center, China’s total retail sales of air conditioners in RY 2019 reached 60.56 million units, dropping by 7.6% year on year, with a 10% decrease on a value basis.