Sales of new home appliances within a government-backed home appliance trade-in program, hit 121.11 billion yuan (18.35 billion U.S. dollars) in 2010, the Ministry of Commerce said Friday.
The program, which was begun in June 2009 to boost domestic consumption and curb pollution, lifted the sales volume of home appliances to 32.22 million units last year, the ministry said in a statement posted on its website.
In the fourth quarter alone, 3.59 million home appliances were sold within the trade-in program, up 147.7 percent year on year. Sales in the fourth quarter hit 16.63 billion yuan, up 142.7 percent from one year earlier.
Further, the country recycled 33.45 million old home appliances in 2010, the statement said.
According to the trade-in program, buyers can receive a subsidy worth 10 percent of the retail prices on five types of new appliances: TV sets, refrigerators, washing machines, air-conditioners and computers.
Last month, Chinese Commerce Minister Chen Deming said the trade-in program would be extended to the end of 2011, and the ministry might adjust the number of products available under the program this year.
The program, which was begun in June 2009 to boost domestic consumption and curb pollution, lifted the sales volume of home appliances to 32.22 million units last year, the ministry said in a statement posted on its website.
In the fourth quarter alone, 3.59 million home appliances were sold within the trade-in program, up 147.7 percent year on year. Sales in the fourth quarter hit 16.63 billion yuan, up 142.7 percent from one year earlier.
Further, the country recycled 33.45 million old home appliances in 2010, the statement said.
According to the trade-in program, buyers can receive a subsidy worth 10 percent of the retail prices on five types of new appliances: TV sets, refrigerators, washing machines, air-conditioners and computers.
Last month, Chinese Commerce Minister Chen Deming said the trade-in program would be extended to the end of 2011, and the ministry might adjust the number of products available under the program this year.
