Policy lifts sales
By Feng Jianmin |
March 9, 2011, Wednesday
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Print Edition
Print Edition
CHINA'S old-for-new home appliance subsidy program has stimulated 152.12 billion yuan (US$23.17 billion) in sales, with televisions and air-conditioners the most popular of the five designated products, the Ministry of Commerce said yesterday.
The data was released one day after Vice Commerce Minister Wei Jianguo said the trade-in policy will be extended to 2012.
Wei's comment eased concerns the government will stop the policy after a similar trade-in policy for autos was canceled in December.
China launched a subsidy plan for home appliances in June 2009 and extended coverage to 28 cities and provinces in June.
Registered residents can get a subsidy of as much as 400 yuan when buying new products if they trade in their old ones at the time of purchase.
The data was released one day after Vice Commerce Minister Wei Jianguo said the trade-in policy will be extended to 2012.
Wei's comment eased concerns the government will stop the policy after a similar trade-in policy for autos was canceled in December.
China launched a subsidy plan for home appliances in June 2009 and extended coverage to 28 cities and provinces in June.
Registered residents can get a subsidy of as much as 400 yuan when buying new products if they trade in their old ones at the time of purchase.
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