In 2010, China’s home appliance industry achieved retail sales of 1.04 trillion yuan ($157.70 billion), marking a new record high in over 10 years, according to the Beijing Times citing reports from China Market Monitor Co. Ltd. Sunday.
Black appliances alone generated more than 170 billion yuan ($25.78 billion), and white goods appliances triggered over 250 billion yuan ($37.91 billion). Money made by IT and telecommunications industry accumulated over 450 billion yuan ($68.23 billion), while appliances used for kitchen and bath contributed 170 billion yuan ($25.78 billion).
Economic stimulus, improved environment for the home appliances industry’s development and consumption needs were all vital factors that led the industry to a trillion yuan’s earning, said Li Jixiang, vice president of China Market Monitor.
White goods are usually large electrical home appliances, such as refrigerators or washing machines, which are typically finished in white enamel, while black goods are usually appliances that can provide entertaining services, like a TV or DVD.