360Buy Joins China's "Old for New" Recycling Program
DoNews, 7/14/10
Beijing-based IT products B2C e-commerce platform 360Buy has announced it won a recent bid for China's government-sponsored "Old for New" home appliance recycling program to provide consumers with nearly 30% discounts off the retail price for products purchased in exchange for old appliances.
Consumers must first order products on 360Buy.com and provide required information about their old appliance. 360Buy delivery personnel will then deliver the ordered product and pick up the customer's old appliance. After the information regarding the recycled appliance has been reviewed and approved by Beijing's "Old for New" management system, the appliance's depreciation value and the national 10% recycled appliance subsidy will be advanced by 360Buy to be directly deposited in the customer's bank account or 360Buy account.
360Buy VP Xu Lei said that in addition to Shanghai and Beijing, 360Buy has already applied to join the "Old for New" program in Guangzhou and Chengdu.
Keywords: Xu Lei Old for New e-commerce Internet recycling B2C 360buy government initiative government support government subsidy consumer electronics home appliances
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