China's electronics sales rebound in May

By Kim Young-gyo
HONG KONG, June 13 (Yonhap) -- Sales of consumer electronics products in China rebounded in May largely due to higher seasonal demand, the Chinese government said Monday.
The Chinese Ministry of Commerce said in a report that sales of consumer electronics appliances covered by the rural subsidy program rose 21.8 percent on-year to 15.3 billion yuan (US$2.36 billion) last month.
The figure was a turnaround from a 12-percent drop the previous month, which was the first decline in electronics sales since China introduced the subsidy program in 2009 to stimulate rural consumption amid the economic slowdown.
The number of electronics products sold rose 0.9 percent on-year to 5.78 million units in May, compared to a 31-percent drop to 3.29 million units in April.
The rebound last month was driven by robust sales of refrigerators and air conditioners as Chinese rural consumers started to prepare for the arrival of summer.
The government's strengthened supervision over people who abuse the subsidies to resell the products led to the sales decline the previous month, market experts said.
The eastern province of Shandong reported the largest sales among Chinese cities and provinces in May, selling 2.11 billion yuan worth of electronics products, making up 14 percent of the nationwide sales.
In the January-May period, 45.23 million units of consumer electronics products were sold in rural areas, up 71 percent from a year earlier. In value terms, sales surged 103 percent to 109.5 billion yuan.
ygkim@yna.co.kr