Home / Government / Central Government News Tools: Save | Print | E-mail | Most Read | Comment
Gov't subsidizes old-for-new consumption
Adjust font size:

China will increase subsidies for consumers who sell their cars and home appliances in order to purchase new ones, in an effort to spur domestic consumption and curb pollution, according to an cabinet meeting held Tuesday.

The government will raise subsidies for auto replacements from 1 billion yuan (US$145.9 million) to 5 billion yuan this year, and allocate 2 billion yuan to encourage home appliance upgrades, an executive meeting of the State Council presided over by Premier Wen Jiabao said.

The move will further help stimulate domestic spending after the rebate program for auto and home appliance buyers in the rural areas greatly boosted rural consumption, said a statement from the meeting.

Consumers who trade-in their used mid- and small-sized truck and some types of mid-sized passenger cars for new ones will receive a subsidy.

Subsidies will also be given to consumers who sell automobiles that no longer meet the government's emission standard, but are still within life expectancy.

The subsidy will be no more than the purchase tax of the automobile.

A pilot program of home appliance replacement will start in Beijing, Shanghai, Tianjin, Fuzhou, Changsha and provinces of Jiangsu, Zhejiang, Shandong, Guangdong, said the statement. No specific date was given.

Buyers will receive a subsidy worth 10 percent of the prices on five kinds of new appliances, namely, TV sets, refrigerators, washing machines, air-conditioners and computers.

Retail sales kept solid growth in China as the world's third largest economy turned to domestic consumption for growth after exports tumbled.

Retail sales rose 14.8 percent in April year on year to 934.32 billion yuan, the National Bureau of Statistics (NBS) announced last Wednesday.

The growth rate was 0.1 percentage point higher than in March.

From January to April, retail sales totaled 3.87 trillion yuan, up 15 percent over the same period last year.

More than 1.15 million vehicles were sold last month in China, up 25 percent year on year, according to China Association of Automobile Manufacturers on May 8.

Sales were boosted by government stimulus policies, Zhang Yunpeng, an analyst with Beijing-based Huarong securities told Xinhua last Wednesday. China in January halved the purchase tax on passenger cars to 5 percent for models with engine displacements of less than 1.6 liters.

As part of the government effort to boost consumption, China Banking Regulatory Commission (CBRC) said on May 12 that the consumers will get loans without collateral for buying durable goods, including appliances and electronic products, and other private consumption such as travel and education.

(Xinhua News Agency May 19, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- Domestic demand to spur recovery
- Domestic demand expansion urged in 4 sectors as exports falter
- Officials brief on boosting domestic demand
- China stresses domestic demand as crisis harms export
Questions and Answers More
Q: What kind of law is there in place to protect pandas?
A: In order to put the protection of giant pandas and other wildlife under the law, the Chinese government put the protection of rare animals and plants into the Constitution.
Useful Info
- Who's Who in China's Leadership
- State Structure
- China's Political System
- China's Legislative System
- China's Judicial System
- Mapping out 11th Five-Year Guidelines
Links
- Chinese Embassies
- International Department, Central Committee of CPC
- State Organs Work Committee of CPC
- United Front Work Department, Central Committee of CPC
主站蜘蛛池模板: 亚洲一区二区在线视频| 免费又黄又爽又猛的毛片| 青青操在线视频| 夜夜添无码试看一区二区三区| 中文japanese在线播放| 日本欧美在线观看| 亚洲AV无码专区国产乱码电影| 欧美日韩精品久久久久| 伊人任线任你躁| 精品久久久久久国产| 啦啦啦手机在线中文观看| 要灬要灬再深点受不了看| 国产成人精品日本亚洲直接| 美腿丝袜亚洲综合| 国产精品网址在线观看你懂的| 亚洲精品亚洲人成在线| 精品少妇人妻av无码专区| 国产一区免费在线观看| 91欧美激情一区二区三区成人 | j8又粗又硬又大又爽视频| 成人h在线播放| 亚洲va欧美va天堂v国产综合| 欧美精品高清在线观看| 亚洲综合精品香蕉久久网| 男人j放进女人p全黄午夜视频| 免费看的黄网站| 精品久久久无码人妻字幂| 午夜成人无码福利免费视频| 美女扒开超粉嫩的尿口视频| 国产69精品久久久久9999| h国产在线观看| 国产精品白浆无码流出| 91av中文字幕| 国产美女在线一区二区三区| 91香蕉在线视频| 国产韩国精品一区二区三区 | 3d动漫精品啪啪一区二区免费 | 老子影院午夜精品无码| 国产一精品一av一免费爽爽| 草莓视频秋葵视频在线观看ios| 国产人妖在线观看|