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China sets caps on purchases of subsidized home appliances

06-24-2010 16:07 BJT

BEIJING, June 24 (Xinhua) -- China's Ministry of Commerce (MOC) announced Thursday it has revised with other government departments the home appliance replacement program to set caps on purchases.

The new amendment to the "old-for-new" subsidy program requires that an individual can only buy a maximum of 5 home appliances.

The amendment also requires that a company purchase no more than 50 items eligible for subsidies.

China launched in June 1, 2009 the old-for-new home appliance pilot program in 9 cities and provinces including Beijing, Shanghai, and Guangdong.

Consumers can receive a subsidy worth 10 percent of the price of five kinds of new appliances, including televisions, refrigerators, washing machines, air-conditioners and computers.

As of May 31, a total of 14 million units of home appliances were sold in these regions, with retail sales reaching 54 billion yuan (7.94 billion U.S. dollars), according to data from the MOC.

The MOC announced on June 3 to further expand the program to a total of 28 cities and provinces between June 1, 2010 and Dec. 31, 2011.

Editor:Du Xiaodan |Source: Xinhua

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