China a market leader for consumer electronics in Asia

China is emerging as a global hub for consumer electronics and household appliances and led the Asia-Pacific market with a sales share of approximately 48 percent last year, said a recent report.

The report was co-released by global accounting firm Ernst & Young and China Chamber of Commerce for Import and Export of Machinery and Electronic Products. It came out at the ongoing 2024 Consumer Electronics Show in Las Vegas, the world’s largest consumption technology show that concludes on Friday.

The report said China has not only solidified its position as a leading country in production and sales, but also maintained significance in the export of these products, which stood at 42 percent in global shares in 2022.

Driving the growth of China's consumer electronics and home appliance market are factors such as the continuous development of e-commerce channels, rising disposable income among Chinese consumers, innovation in products, advancement of emerging technologies, government support, etc, the report said.