The Ministry of Commerce (MOC) stimulus program for home appliance purchases in rural areas has continued to boost sales in the first 11 months.
Rural purchases of home appliances reached 67.3 million units in the January-November period, an increase of 140% year-on-year. Sales of subsidized home appliances in rural areas soared 180% to RMB150.41 billion (US$22.62 billion.)
By value, the top three selling items in rural areas were refrigerators at RMB51.02 billion, TV sets at RMB41.63 billion and air conditioners at RMB16.23 billion.
China launched the subsidy program in February 2009 to stimulate rural consumption amid the global economic downturn.
English.News.cn reports that under the program, Chinese farmers can receive subsidies equal to 13% 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.