This Day, That Year
ItemfromJune8,1989,in ChinaDaily:Workersmake finaladjustmentsonatape recorderataplantinZhuhai,Guangdongprovince.
Audioequipmenthas becometheleadingexport itemamonghouseholdelectricalwaresmadeinChina.
Lastyear,audiomanufacturersearned$224million throughoverseassalesof cassetterecordersandother products.
Through acquisitions, brand promotion and innovation, Chinese home appli- ances makers have expanded global presence.
During 2011 to 2015, the export value of home appliances exceeded $300 billion. In 2002, exports were worth just $8.75 billion, according to the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.
Major white goods manufacturers are now planning further overseas expansion.
Home appliances giant Hisense entered the European market in 2002, and established its first overseas plant in Hungary in 2004.
Last year, Haier Group acquired GE Appliances for $5.6 billion. Since it entered Europe in 2007, Haier has become one of the top 10 home appliances brands in Germany.
Chinese manufacturers showcased their smart home products at this year’s Consumer Electronics Show in Las Vegas.
Policies such as Made in China 2025, the Belt and Road Initiative and the Internet Plus strategy have also injected vigor into the sector, according to the China Information Technology Industry Federation.