MOFCOM Extends, Expands 'Old for New' Initiative

Southern Metropolitan News, 6/02/10

Chinese electronics retailers Gome (0493.HK) and Suning (002024.SZ) in Guangdong province have reported that they have received no order to halt the government-sponsored "Old for New" home electronics recycling program, though the initiative was set to end on May 31, 2010.

An official within the Department of Commercial Services Administration of China's Ministry of Commerce said no notice has been received there either, and the program will continue to expand and the nine trial municipalities will continue to follow the "Old for New" policy. Selected additional cities will be announced following an upcoming "Old for New" working conference.

Keywords: Old for New hardware recycling Ministry of Commerce Gome Suning 002024.SZ 0493.HK consumer electronics home appliances government initiative government support government subsidy

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