China’s Home Appliances Industry Seems to Recover

According to the Ministry of Commerce, from January to May this year, the units above the national quota have seen retail value of home appliances and audio and video equipment reached RMB 313. 3 billion (about US$ 43.59 billion), recovering to the same level as last year. The Ministry of Commerce has teamed up with relevant departments to release a Notification Promoting Green and Smart Home Appliances Consumption in 2023, which will accelerate the recovery and expansion of home appliances consumption from three aspects.