China to Cancel Price Cap for Rural Home Appliance Project

China Consumer News, 7/13/09

Zeng Guo'an, vice president of the department of economic development in China's Ministry of Finance, recently said the Ministry has decided to cancel plans to place price caps on rural consumer electronics subsidies while finalizing policies for the government initiative. Instead, a ceiling will be set on the value of subsidies, Zeng said at a recent summit on the rural subsidies program.

Jiang Yaoping, Vice Minister of Commerce, said that with the program expanding and prices increasing, along with new policies doing away with price limits and introducing a simplified subsidy approval process, the Ministry estimates the program will see 600 mln units in sales over the next four years, reaching RMB 1.6 trln in sales revenue.

Keywords: Zeng Guo'an Ministry of Commerce statistics government subsidy consumer electronics government initiative hardware Jiang Yaoping Ministry of Finance rural sales volume home appliances revenue

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily