Subsidies lift sales
June 8, 2010, Tuesday
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Print Edition
Print Edition
MONTHLY sales of home appliances in China's countryside surged 220 percent annually in May, boosted by the government's rural subsidy program for such purchases, the Ministry of Commerce said yesterday.
The sales value soared to 12.6 billion yuan (US$1.84 billion) in May, 26 percent higher than April's, said a statement on the ministry's Website.
Sales volume topped 5.75 million units, up an annual 160 percent.
The May figure brought the total sales value in the first five months to 54.35 billion yuan, up 400 percent from a year ago, the statement said.
China started the subsidy program in February last year to spur rural consumption to buoy the nation's economic growth amid the global economic downturn.
The sales value soared to 12.6 billion yuan (US$1.84 billion) in May, 26 percent higher than April's, said a statement on the ministry's Website.
Sales volume topped 5.75 million units, up an annual 160 percent.
The May figure brought the total sales value in the first five months to 54.35 billion yuan, up 400 percent from a year ago, the statement said.
China started the subsidy program in February last year to spur rural consumption to buoy the nation's economic growth amid the global economic downturn.
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