Sales of large-size electrical household appliances including LCD TVs in the China market were lower than expected during the Lunar New Year holidays, according to data compiled by retail channels in China.
Combined sales of the four major China-based retail chains, Suning, Gome, Five-Star and Telephone World, edged up only 3% on year during the holiday season, according to media reports in China.
Other media also indicated that sales of household appliances in Anhui province actually declined 15% on year during the holiday season.
Sales value of electrical household appliances in three provinces, Shandong, Henan and Sichuan, tumbled by 17.9% on year in December 2011 due to the termination of the government's subsidy program for rural sales, said the reports, which also noted that sales in the three provinces remained sluggish during the New Year holidays amid uncertainty over the government's consumer policy.
In 2011, sales volume of subsidized rural sales in China increased 34.5% on year to 103 million units, while sales value soared 53.1% to CNY264.1 billion (US$41.91 billion), according to data compiled by China's Ministry of Commerce.
Rural sales in Shandong, Henan and Sichuan provinces accounted for 35.2% of total subsidized sales in 2011, the data showed.
As of the end of 2011, total rural sales exceeded CNY500 billion with government subsidies reaching CNY59.22 billion, said the ministry.
Article translated by Steve Shen
