China's coolness economy drives surge in refrigeration and cooling demand

Rising temperatures in China have fueled a phenomenon known as the ‘coolness economy,’ driving significant growth across various sectors. This economic trend encompasses a wide range of products and services designed to mitigate heat, including ice sales, portable cooling devices, sun protection clothing, and large household appliances.

In Shanghai, ice cup sales surged by 94.4% year-on-year during the second quarter. The manufacturing sector is also seeing a boost, with approximately 42,900 companies in China involved in ice production. Additionally, Chinese air conditioner manufacturers have increased production levels to meet rising demand, supported by state-led appliance renewal programs.

The impact extends to international trade, particularly with Europe. From January to May, the manufacturing hub of Ningbo exported refrigeration equipment worth 2.73 billion yuan (approximately 406 million USD) to Europe, marking a 29.3% year-on-year increase.