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Details of government subsidies released
Source: Xinhua |
June 4, 2009, Thursday
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Print Edition
CHINA'S National Development and Reform Commission, the country's top economic planner, announced yesterday detailed subsidy plans for auto and home appliance replacements.
Consumers who trade in their used mid and small-sized trucks and some types of mid-sized passenger cars for new ones will receive rebates from 3,000 yuan (US$438) to 6,000 yuan, according to the NDRC Website.
Rebates will also be given to consumers who sell automobiles that no longer meet the government's emission standards, but are still within their life expectancy.
Consumers will get the rebate by handing over confirmation notes from recycling plants and receipts for the new automobiles they purchase to the local government, said the NDRC.
For home appliance replacements, consumers who contact local recycling plants will receive a pick-up service for their old models and qualify for a direct price reduction when buying the new appliances with vouchers from the plants, it said.
Buyers will receive a subsidy worth 10 percent of the retail price on five kinds of new appliances: TV sets, refrigerators, washing machines, air-conditioners and computers, according to an earlier government statement.
The government increased subsidies for auto replacements from 1 billion yuan to 5 billion yuan this year, and allocated 2 billion yuan to encourage appliance upgrades.
Consumers who trade in their used mid and small-sized trucks and some types of mid-sized passenger cars for new ones will receive rebates from 3,000 yuan (US$438) to 6,000 yuan, according to the NDRC Website.
Rebates will also be given to consumers who sell automobiles that no longer meet the government's emission standards, but are still within their life expectancy.
Consumers will get the rebate by handing over confirmation notes from recycling plants and receipts for the new automobiles they purchase to the local government, said the NDRC.
For home appliance replacements, consumers who contact local recycling plants will receive a pick-up service for their old models and qualify for a direct price reduction when buying the new appliances with vouchers from the plants, it said.
Buyers will receive a subsidy worth 10 percent of the retail price on five kinds of new appliances: TV sets, refrigerators, washing machines, air-conditioners and computers, according to an earlier government statement.
The government increased subsidies for auto replacements from 1 billion yuan to 5 billion yuan this year, and allocated 2 billion yuan to encourage appliance upgrades.
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