Page 188 - 2020 White Paper on the Business Environment in China
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0 White Paper on the Business Environment in China
down 1.4 percent year-on-year. Local government made to encourage financial institutions to provide
subsidies to stimulate the consumption of home credit support for residents purchasing green
appliances will promote development of the air and smart home appliances. These measures will
conditioner industry. Although the slowdown of the encourage home appliance enterprises to establish
real estate industry in 2018 restrained increasing recycling platforms, accelerate the frequency of
demand for air conditioners, the expansion of the replacement of appliances, as well as drive
brick-and-mortar stores selling home appliances the popularization of energy-saving products. The
in lower-tier cities and towns has effectively growth rate in the domestic home appliance market
unleashed the consumption demand from rural is slowing down, so the guideline is conducive in
areas (Fan, Air Conditioner). tapping the consumption potential and boosting
the sales growth of the entire home appliances
Meanwhile, China’s installed base of smart industry. According to the China Renewable
assistant devices are expected to reach 5.8 Resources Recycling Association, the number of
billion by 2023. Devices for the home such as air household appliances and electronic products
conditioners, door locks, TVs and refrigerators, scrapped is expected to reach 137 million units in
which will be able to be operated by a smart 2020, increasing by about 20 percent annually. The
assistant via the network, will reach 3.6 billion country enjoys huge potential in the recycling and
in 2023. The rise of smart assistants built-in to reutilizing of waste products, the market scale of
speakers catalyzed the growth of smart home which has amounted to more than 200 billion yuan
devices that can be controlled via voice. The (Fan, Accelerate Recycling).
installed base of devices with smart assistants
built-in will reach 2.2 billion units in China with
a compound annual growth rate of 42 percent
between 2018 and 2023. Canalys Research
predicts that every Chinese household will own
an average of seven smart assistant-compatible
home devices by 2023. The large appliance
category, which includes refrigerators, washing
machines and air conditioners, is expected to
contribute the biggest growth. The smartphone
will continue to be the main device category for
smart assistants in 2023. Over the next few years,
the increasing awareness of saving energy and
creating a healthier living environment will also be
important for the Chinese IoT market, according
to the report (Xinhua, China’s Smart).
On the other end, China’s home appliance
makers are expected to speed up the recycling
of discarded products and launch more green
and intelligent household appliances, in a bid to
shore up and promote the upgrading of the whole
industry, as the nation has rolled out a number of
measures to boost consumption. Incentives should
be introduced to support consumers to exchange
old home appliances and electronics for greener,
energy-saving and intelligent alternatives, such
as ultra-high-definition televisions, refrigerators,
washing machines, air conditioners and
smartphones, according to a guideline issued by
the State Council. Moreover, efforts should be
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down 1.4 percent year-on-year. Local government made to encourage financial institutions to provide
subsidies to stimulate the consumption of home credit support for residents purchasing green
appliances will promote development of the air and smart home appliances. These measures will
conditioner industry. Although the slowdown of the encourage home appliance enterprises to establish
real estate industry in 2018 restrained increasing recycling platforms, accelerate the frequency of
demand for air conditioners, the expansion of the replacement of appliances, as well as drive
brick-and-mortar stores selling home appliances the popularization of energy-saving products. The
in lower-tier cities and towns has effectively growth rate in the domestic home appliance market
unleashed the consumption demand from rural is slowing down, so the guideline is conducive in
areas (Fan, Air Conditioner). tapping the consumption potential and boosting
the sales growth of the entire home appliances
Meanwhile, China’s installed base of smart industry. According to the China Renewable
assistant devices are expected to reach 5.8 Resources Recycling Association, the number of
billion by 2023. Devices for the home such as air household appliances and electronic products
conditioners, door locks, TVs and refrigerators, scrapped is expected to reach 137 million units in
which will be able to be operated by a smart 2020, increasing by about 20 percent annually. The
assistant via the network, will reach 3.6 billion country enjoys huge potential in the recycling and
in 2023. The rise of smart assistants built-in to reutilizing of waste products, the market scale of
speakers catalyzed the growth of smart home which has amounted to more than 200 billion yuan
devices that can be controlled via voice. The (Fan, Accelerate Recycling).
installed base of devices with smart assistants
built-in will reach 2.2 billion units in China with
a compound annual growth rate of 42 percent
between 2018 and 2023. Canalys Research
predicts that every Chinese household will own
an average of seven smart assistant-compatible
home devices by 2023. The large appliance
category, which includes refrigerators, washing
machines and air conditioners, is expected to
contribute the biggest growth. The smartphone
will continue to be the main device category for
smart assistants in 2023. Over the next few years,
the increasing awareness of saving energy and
creating a healthier living environment will also be
important for the Chinese IoT market, according
to the report (Xinhua, China’s Smart).
On the other end, China’s home appliance
makers are expected to speed up the recycling
of discarded products and launch more green
and intelligent household appliances, in a bid to
shore up and promote the upgrading of the whole
industry, as the nation has rolled out a number of
measures to boost consumption. Incentives should
be introduced to support consumers to exchange
old home appliances and electronics for greener,
energy-saving and intelligent alternatives, such
as ultra-high-definition televisions, refrigerators,
washing machines, air conditioners and
smartphones, according to a guideline issued by
the State Council. Moreover, efforts should be
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