中国家电板块 2026 展望：补贴相关消费调研显示不同品类需求分化-China Consumer Appliances Sector_ Outlook 2026_ Consumer survey on subsidies shows diverging demand across categories

ab 10 January 2026 Powered by YES UBS Evidence Lab Exports challenging, but 'going global' remains a structural opportunity ChinaIOL expects global white goods demand to show steady growth (+1.5% YoY) in 2026, but Chinese AC/WM/fridge exports to be sluggish (-4.0%/+0.2%/-4.3% YoY). We expect exports to Europe/US to remain muted, due to the continued relocation of capacity from China due to US tariffs, but industry leaders could benefit from their global capacities. We see upside in demand from emerging mark ...