National Business Daily, 2/04/09
On February 1, a government program to subsidize the purchase of consumer electronics by 13% in rural areas was expanded nationwide. The Ministry of Commerce (MOFCOM) and the Ministry of Finance (MOF) expect total government spending on the program to reach RMB 10.4 bln, leading to accumulated purchases worth RMB 920 bln.
Editor's Note: The government initiative, jointly promoted by the MOFCOM and MOF, aims to promote home appliances and consumer electronics in rural areas. It was initially run as a trial in select provinces, providing subsidies to consumers on color televisions, refrigerators, washing machines, mobile phones and personal computers.