Home appliance replacement subsidies to finish by year's end
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Xinhua, December 15, 2011
China's old-for-new home appliance subsidy program has achieved its intended goals and is scheduled to conclude by the end of the year, Ministry of Commerce (MOC) Spokesman Shen Danyang said Thursday.
With the subsidy incentive, home appliance sales from 3,000 monitored retailers rose 12.8 percent year-on-year in November, Shen said, without specifying the value of the sales.
Data previously released by the MOC showed home appliance sales in China's rural areas reached 29.8 billion yuan (4.66 billion U.S. dollars) in November.
To stimulate consumption, China began a subsidy plan for home appliance buyers in nine cities and provinces in June 2009, and expanded the pilot program to 28 cities and provinces in June 2010.
Under the program, consumers selling their old appliances to recycling companies are eligible for a 10-percent discount on the purchase of new appliances.
Shen said the program has played an important role in boosting domestic consumption after the global financial crisis broke out in 2008, and has promoted energy conservation and environmental protection.
