Mar 7 - Home Appliance Sales in Rural Areas Fell 12.8% YoY in Feb.

Source: Ministry of Commerce, ChinaScope Financial (Data)

+       The Ministry of Commerce (MOFCOM) announced on March 6 that in February 2012, 6.97 million units - equivalent to a sales value of CNY 18.2 billion - of home appliances have been sold in rural areas. As home appliance subsidies for rural residents have expired in Shandong, Henan, Sichuan and Qingdao, the sales volume and value has dropped 21.4% and 12.8% year-on-year, respectively.

+       At the end of February, 230 million units of home appliances, with a value of CNY 537.85 billion, has been sold in rural areas under the scheme. The total amount of subsidies paid out under the scheme is CNY 62.62 billion.

Subsidized rural home appliance sales have dropped due to termination of the subsidy scheme in some provinces

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