Retail sales value of Chinese household appliances are forecast to grow 14.4 per cent this year.

Research and Markets said sales of Chinese white goods have regained steam after the termination of China’s subsidy policy for energy-saving appliances.

The booming real estate market and the need to decorate homes, together with an improved industry structure, have helped unleash the demand for white goods in China.

In the second half of 2013, the Chinese home appliance market is expected to see steady growth, of which white goods will continue to play a pivotal role. From the first quarter to the third quarter of 2013, white goods were the major driver propelling the Chinese home appliance industry, taking up around 60.5 per cent of the industry’s overall revenues.

According to the National Bureau of Statistics, the retail sales value of Chinese household appliances from January to October reached 562.1 billion yuan (US$92.2 billion), up 14.4 per cent year on year.

In October alone, retail sales value arrived at 66.4 billion yuan (US$10.9 billion), rising 12.5 per cent year on year.

Thanks to China’s subsidy policy for energy-saving appliances, which ended in May 31, Chinese domestic household appliances market saw a significant growth in the first half of 2013. During January and April, the appliances market was on the rebound, with its sales volume approaching or exceeding historical records.