Cool subsides cut
By Joyce Pan |
May 14, 2010, Friday
|
Print Edition
Print Edition
ENERGY-EFFICIENT air-conditioners will be more expensive after the central government trimmed its subsidies on purchases, industry watchers said.
Earlier this month, the government decided to extend the subsidies on energy-saving air-conditioners through May 31. But the subsidies were cut to between 150 yuan (US$22) and 250 yuan from 300 yuan to 850 yuan previously.
"The smaller support is sure to trigger industrywide price increases due to manufacturing costs. For instance, air-conditioner prices in Shanghai are seen to rise by at least 10 percent," said Li Fuchun, secretary general of Shanghai Household Electric Appliance Profession Association.
Industry players are beefing up efforts to bolster the market. Suning Appliance invested 11 million yuan in Shanghai to offer subsidies between 200 yuan and 300 yuan to offset the impact of the price rises.
Earlier this month, the government decided to extend the subsidies on energy-saving air-conditioners through May 31. But the subsidies were cut to between 150 yuan (US$22) and 250 yuan from 300 yuan to 850 yuan previously.
"The smaller support is sure to trigger industrywide price increases due to manufacturing costs. For instance, air-conditioner prices in Shanghai are seen to rise by at least 10 percent," said Li Fuchun, secretary general of Shanghai Household Electric Appliance Profession Association.
Industry players are beefing up efforts to bolster the market. Suning Appliance invested 11 million yuan in Shanghai to offer subsidies between 200 yuan and 300 yuan to offset the impact of the price rises.
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