Fifty-three percent of Chinese-made air conditioners have been sold overseas since the beginning of this year, according to a latest report released by the China Household Electrical Appliances Association (CHEAA).

This is the first time the export of air conditioners made in China has exceeded domestic sales since the country started to export air conditioners 16 years ago, the CHEAA said in the annual report on China's air conditioner industry.

China, the world's largest base for air conditioner production, now has an annual production capacity of over 120 million air conditioners, which can meet 80 percent of the global market demand, the CHEAA said.

The current global market, however, only needs about 52 million air conditioners from China, so the country's manufacturers face the problem of oversupply, according to the CHEAA.

China's air conditioner market is now dominated by a few brands. The top three home brands, Haier, Gree and Midea, occupy 55.8 percent of the market share, and the first ten brands account for more than 85 percent of the country's market share.

Source: Xinhua