China to Subsidize Energy Efficient Appliances

Guangzhou Daily, 4/13/09

During a summit focused on the future development of Chinese manufacturing and technology, a spokesperson for China's State Council revealed that various government departments are currently researching subsidy programs and other favorable policies designed to support the development of high-efficiency and energy-saving products.

According to the spokesperson, the Chinese government will increase both the number and type of financial subsidies available this year, with subsidies to cover ten product types including televisions and computer monitors. Government investment is expected to range from several billion RMB to over RMB 10 bln.

Mu Gang, president of multimedia marketing at Chinese electronic appliance manufacturer Konka (200016.SZ, 000016.SZ), stated that manufacturers including Konka, Hisense (600060.SH), TCL (000100.SZ), Skyworth (0751.HK), and Changhong (600839.SH) are all accelerating research and development of energy-saving technologies.

Keywords: government subsidy policy consumer electronics TV set hardware Mu Gang State Council cleantech energy efficiency R&D

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