May 30, 2012
Translated by Zhu Na

The Ministry of Finance revealed more details about a recently-announced plan to provide subsidies to Chinese consumers if they purchase energy-efficient home appliances on Monday.

The subsidies are part of broader efforts to help boost consumption and encourage growth.

From the start of June 2012 to the end of May 2013, the ministry will offer subsidies of up to 400 yuan to those who purchase energy-efficient air-conditioners and color televisions.

The subsidy will vary according to the kind of product purchased, but a subsidy of between 180 and 400 yuan will be offered for the purchase of one air-conditioning unit and between 100 yuan and 400 yuan will be offered to those who purchase certain kinds of color TV.

The Ministry of Finance estimated that the subsidies would increase consumption by 135 billion yuan and achieve energy savings of around 12 million megawatt hours a year.

According to a report in yesterday's Wuhan Evening News, home appliance stores in Wuhan have already begun to prepare for the introduction of the subsidies.

The paper also quoted customers as saying that given that Wuhan (along with most cities in China) is likely to soon introduce a new tiered electricity pricing mechanism, it makes sense to purchase energy-efficient appliances.

Links and Sources
Ministry of Finance: 高效節能平板電視和節能空調推廣正式啟動
Wuhan Evening News: 財政部：買節能空調彩電最高可獲政府補貼400元
Economic Observer Online: Subsidies for Eco-Friendly Appliances