China is offering subsidies of as
much as 400 yuan ($63) per unit to buyers of energy-saving water
heaters, refrigerators and washing machines, the Ministry of
Finance said in a statement yesterday.
The plan will use “explicit fiscal subsidies” to promote
the use of such appliances, allowing consumers to claim those
rebates directly from qualified sellers from June 1 this year to
the end of May 2013, according to the statement posted on the
China is taking steps to promote domestic consumption and
stimulate its economy amid concerns about impact from Europe’s
debt crisis. The government will allocate 26.5 billion yuan to
subsidize those who buy energy-saving household appliances and 6
billion yuan for energy-efficient vehicles purchases, according
to a State Council statement issued May 16.
Promotions of energy efficient flat-panel televisions and
energy-saving air conditioning, which were announced earlier,
are projected to stimulate consumption of more than 135 billion
yuan, the Ministry of Finance said last week.