Home appliance makers' profits up 20.4% last year

Updated 2017-03-01 13:58:20 chinadaily.com.cn

Domestic home appliance manufacturers reported a 20.4 percent increase in 2016 profits, Beijing Business Today reported citing data from the National Bureau of Statistics.

Last year, China's home appliance makers' core business revenue totaled 1.46 trillion yuan (2.37 billion), up 3.8 percent from the previous year, with profits rising by 20.4 percent to 119.69 billion yuan.

A total of 160.49 million units of air conditioners, up 4.5 percent, 92.38 million units of refrigerators, up 4.6 percent, and 76.21 million units of washing machines, up 4.9 percent, were produced last year.

During the same period, the sales-output ratio reached 94.9 percent, down 0.1 percentage point from a year ago, while the export shipment value went up 7.9 percent to 372.5 billion yuan.

Last year, China's business to customer (B2C) home appliance online shopping market (including mobile terminal) was estimated to be worth 384.6 billion yuan, up 27.9 percent from the previous year, according to the China's home appliance online shopping report 2016.

In 2016, the e-commerce penetration ratio of domestic home appliance market, which are dominated by JD.com, Tmall and Suning.com, reached 19.95 percent, the report said.

Online shopping has become a driving force for the home appliance retail sector, the report added. Meanwhile, the market continued to show a trend of shifting to the high-end product market, especially the smart home appliance products, which have a bigger influence in the market.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 22 2017 17:17:46

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 22 2017 17:17:46

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 22 2017 17:17:46

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords