Farmer income growth will lead to market growth of rural household appliances
20 years of China's rural reform, income levels and living standards of farmers have a substantial increase in 2007 net income of farmers reached 4,140 yuan per capita. Meanwhile, rural consumption expenditure continued to grow steadily since 2004, the growth rate has remained at over 10% in 2006, the average rural household consumption expenditure per capita reached 2,829 yuan, up 10.71%. Rural household equipment and services spending increased year by year, in 2006 average family expenditures for equipment and services 126.56 yuan, an increase of 13.57%.
2007, China's GDP grew 11%, revenue up 5 trillion yuan, an increase of 31%; annual CPI increase of 4.8%, while per capita disposable income of urban residents rose 17.2% over the previous year, rural income up 15.4%. After deducting price factors, the real income of urban residents increased by 12.2% of rural residents increased by 9.5% real (see Figure 1).
China now has about 500 prefecture-level cities, more than 2,100 county-level cities, villages and towns over 50,000, as many as 800 million rural population, number about 210 million households, rural households, 67.6 percent of China's total households %. 20 years of rural reform, income levels and living standards of farmers have been a significant increase in 2007 net income reached 4,140 yuan per capita.
Engel coefficient of rural residents (food expenditure accounts for the proportion of total personal consumption expenditures) declined steadily since 2000, the Engel coefficient of rural households in 40% to 50%, and the basic level in the well-off. The Engel coefficient of rural residents in 2006 had reached 43%, living standards improved steadily, with huge potential to buy (see Figure 2).
Raise income levels and consumption changes in the concept of rural markets
Home Appliances
Potential demand into real purchasing power. In recent years, with the national "Eleventh Five-Year Plan" implementation, in particular the "three rural" issue of great importance, and further macro-control in place, farmers and rising living standards, rural infrastructure has also made some improvements, coupled with the implementation of rural tax reform policies, thus greatly reducing the burden of rural residents, and stimulate their desire for consumption.
2004 years, the rural consumption expenditure to maintain stable growth, the growth rate has remained at 10%. In 2006, China's rural household consumption expenditure per capita reached 2,829 yuan, up by 10.71% (see Figure 3). Rural household equipment and services spending increased year by year, in 2006 average family expenditures for equipment and services 126.56 yuan, an increase of 13.57% (see Figure 4).
TV
Refrigerator market potential
Currently, possession of household appliances in rural China is still far below the city. Statistics show that China's rural household appliance market in recent years, with 15% annual rate of steady growth, estimated that by 2008 the national capacity of 34 household electrical appliances market to reach more than 2300 billion yuan.
Present, the highest penetration rate in rural household electrical appliances in the TV by the end of 2006 has a capacity of 89.08 per 100 units, while urban residents was 134.8 units. TV penetration rate is only about the level of cities and towns in 1995 (see Figure 5), while the refrigerator is lower than urban prevalence is even more the level of 1990 (see Figure 6). The Chinese government has been committed to narrowing the urban-rural gap, then, in accordance with China has 210 million rural households, the next decade to the current conditions of urban computing appliance penetration, the demand for nearly 100 million TV sets, refrigerators demand of 1.45 million units .
As the world's largest TV market, China has 400 million TV sets holdings and several million units of annual sales, flat-panel TV technology has become an irreversible trend. Currently in Beijing, Shanghai and other large cities,
CRT
TV is gradually being
Flat Panel TV
Replaced. Meanwhile, China's color TV production in 2007 continued the trend of slow growth in 2006, annual production of 84.33 million units, up a slight increase of 0.69%.
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