"Old for New" Recycling Program Sets Maximum Subsidy at RMB 400
China Business News, 7/03/09
Seven Chinese ministries, including the Ministry of Finance, Ministry of Commerce and National Development and Reform Commission (NDRC), have issued procedural regulations for the national "Old for New" consumer electronics initiative. The regulations are applicable as of June 1 until May 31, 2010 in 9 trial provinces and municipalities, namely Beijing, Tianjin, Shanghai, Jiangsu, Zhejiang, Shandong, Guangdong, Fujian and Changsha, and state that individuals and organizations with residency or certain other legal qualifications can trade in old consumer electronics and receive a 10% subsidy on the sales price when purchasing new consumer electronics. The maximum subsidy for computers and televisions has been set at RMB 400.
The procedural regulations state that consumers purchasing new consumer electronics can receive the subsidy directly in cash from retailers that meet all requirements and are approved by the Ministry of Finance. Recyclers can receive a transport subsidy for delivering consumer's old electronics and appliances to e-waste disposal companies.
Consumer electronics retailers and recyclers will be selected by a bidding process overseen by municipal and provincial commerce and finance bureaus.
Editor's Note: For more background on this topic, please see
"Government Establishes RMB 2 Bln New for Old Subsidy" MD 5/20/09 issues.
Keywords: government initiative government subsidy bidding consumer electronics hardware Ministry of Commerce Ministry of Finance NDRC regulation Old for New recycling
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