Vital to Qingdao's economy, the home appliance sector showed an impressive year-on-year growth of 5.2 percent in the first quarter of this year. As the economy improves and consumption recovers, this industry is expected to further expand.
Qingdao's home appliance industry is increasingly focusing on high-end, green and intelligent development. Leading enterprises are flourishing, and emerging companies, such as Hauswirt, are also growing rapidly by focusing on mid-to-high-end baking appliances. Last year, Hauswirt realized a year-on-year increase of 15 percent in transaction volume and expects a higher increase in 2023 due to its intelligent transformation.
Qingdao is upgrading its home appliance industry and fostering the development of smart ecosystems. The city has become home to over 20 high-end appliance brands, such as Casarte, Fisher and Paykel, which exemplify the steady progress in the industry.
Major enterprises, including Haier, Hisense and Aucma, are investing heavily in intelligent home appliances. In recent years, Aucma has taken steps to promote the construction of an industrial park for intelligent home appliances to extend the industry chain, create a local demonstration base and increase self-matching rates.
In 2021, Qingdao established a national high-end intelligent home appliance innovation center to boost the industry's innovation capabilities. This has helped make breakthroughs in key technologies and enhance the sector's competitiveness.
Furthermore, to tap into the potential of the home appliance industry, favorable policies have been released and discounts are being offered on green, low-carbon home appliance products.
Qingdao, Shandong province. [Photo/IC]
China (Shandong) Pilot Free Trade Zone Qingdao Area
