This year's Government Work Report clarifies the need to stabilize and expand traditional consumption, encourage and promote the exchange of old for new consumer goods, and boost bulk consumption of intelligent connected new energy vehicles, electronic products, and other products. At the same time, the Government Work Report also emphasizes the improvement of financial, tax, investment, pricing policies and related market-oriented mechanisms to support green development, promote the development of waste recycling industry, promote the research and application of advanced technologies for energy conservation and carbon reduction, and accelerate the formation of a green and low-carbon supply chain.
As one of the major consumers and an important component of the manufacturing industry, improving the recycling and treatment system for waste household appliances in the home appliance industry can not only promote the renewal of household appliance consumption, but also promote high-quality development of the industry and boost domestic demand. At the same time, this is also an important measure to promote green, low-carbon and circular development, improve resource utilization efficiency, and reduce environmental pollution.
Officials from multiple home appliance companies, including Gree Electric Appliances and Changhong Holdings Group, stated in an interview with Securities Daily that the company will continue to promote the development of the waste recycling industry
The prospect of home appliance recycling industry is broad
Currently, China's home appliance market has entered a period of parallel growth and stock, and the popularity of household appliances has reached saturation.
According to the China Statistical Yearbook, the total amount of electricity in China has exceeded 3.2 billion units. At the same time, the proposal to reform the fund for the disposal of discarded electrical and electronic products predicts that more than 200 million units of household appliances will be scrapped in China by 2023. In addition, the demand for replacement in the home appliance market has also entered a stage of concentrated release.
"The problem of 'expired service' in China's home appliance products is widespread. Accelerating the construction of a waste recycling system and promoting the development of the waste recycling industry is of great significance for accelerating the elimination of expired products, promoting green, energy-saving, and intelligent technology products, and will also be an effective measure to promote the rapid recovery and high-quality development of the home appliance industry." Peng Jianfeng, Vice President of the China Electronics Video Industry Association, told Securities Daily reporters.
The relevant policies to promote the recycling and utilization of renewable resources have gradually been implemented in China. In January 2024, the Ministry of Commerce and nine other departments jointly issued a notice on improving the recycling system of renewable resources such as waste household appliances and furniture. It was proposed that by 2025, the recycling volume of waste household appliances and furniture in China will increase by more than 15% compared to 2023, and the level of standardized recycling of waste household appliances and furniture will significantly improve.
At the same time, the home appliance recycling industry chain also shows huge development space. According to a report from Xinda Securities, the scale of China's home appliance recycling industry has exceeded 25 billion yuan, and it is expected to drive the scale of updated consumption to exceed 100 billion yuan.
Xu Dongsheng, Vice Chairman of the China Household Electrical Appliances Association, said in an interview with Securities Daily, "The release of the government work report has pointed out the development direction of China's waste recycling industry. In the future, various regions are expected to introduce a series of policies, including providing financial support, preferential taxation, etc., to encourage more consumer electronics enterprises to participate in the waste recycling industry."
Multiple enterprises promoting system construction
As the main body of the market, home appliance enterprises are also promoting the construction of a waste recycling system and effectively implementing it. Recycling in the first and second batches of home appliance production enterprises