Chinese Market Value Tops $6bn

Musical instruments sales in China are estimated to exceed 40.6 billion yuan ($6.1 billion) in 2017, according to the latest figures launched at the recent Music China expo.

Musical instruments sales soared in recent years as more Chinese kids, particularly those in big cities, are taking up music as an enjoyable extra-curricular activity.

In the first half of the year, 253 musical instrument makers, whose sales revenues exceed 20 million yuan each, recorded a total sales of 19 billion yuan, said the China Musical Instrument Association.

In 2012, the whole year sales were 24.5 billion yuan.

In the Jan-June period, China’s musical instrument exports declined slightly, but the imports grew 6.9 percent year-on-year after reductions to import duty rates, the association said at the Music China Expo.

China has more than 640,000 musical training agencies, with the music training market exceeding 70 billion yuan last year.