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Beijing's "Old for New" Appliance Scheme Ends This Month

Beijing Times, 12/06/11

The Beijing Municipal Commission of Commerce has announced that its government-sponsored "Old for New" home electronics subsidy program will end this month. For the first eleven months of 2011, 1.77 mln units were sold generating RMB 6.78 bln in sales, up 6.5% YoY. For the month of November, 265,000 units were sold to reach RMB 993 mln in sales, up 86.9% YoY and 7% QoQ, the highest monthly sales revenue to date.

Since the program began in August 2009, 3.95 mln units have been sold for RMB 15.4 bln in revenue, while 4.09 mln units have been recycled. Commerce authorities received applications for RMB 1.09 bln in subsidies, RMB 1.03 bln of which were awarded by the Beijing Municipal Bureau of Finance.

The Municipal Commission of Commerce also reminded Beijing residents that the energy-efficient home appliance exchange subsidy program, launched in September 2011, will end on February 29, 2012. Beijing's Appliances to the Countryside rural subsidy program is scheduled to end on January 31, 2013.

Keywords: Old for New Beijing Municipal Bureau of Finance hardware rural Beijing Municipal Commission of Commerce Appliances to the Countryside government initiative government support government subsidy consumer electronics recycling home appliances retail energy efficiency

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