Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Guangdong to Continue Electronics Trade-in Program 4-5 More Years

Nandang Daily, 1/05/10

Qi Zhenli, deputy party secretary of Guangdong's Economic and Informatization Commission, has revealed that China's "Old for New" nationwide consumer electronics trade-in initiative will continue after the trial period ends this May, and Guangdong will continue the program for another four or five years.

Luo Fangshu, director of the commission's market construction office, said talks are underway with the Guangdong Province Finance Bureau about providing advances on subsidy funds to successfully bidding companies that are in sound financial shape and with relatively large sales volumes. The commission also promised to pay out subsidies more quickly and reduce the burden on participating retailers.

Gao Jiqun, GM of the Guangzhou branch of consumer electronics retailer Gome (0493.HK), said "the policy has increased Guangzhou Gome's sales by at least 30%."

Regarding the recycling and scrapping side of the program, Guangdong has already applied to both the Ministry of Commerce and Environmental Ministry to relax bidding qualifications for scrap companies, to add three to five more scrap firms to the program, and to insure there is a scrap company in the eastern, northern and western regions of the province as well as the Pearl River Delta. Meanwhile, recycling firms will enjoy preferential VAT policies.

Keywords: Qi Zhenli Luo Fangshu Gao Jiqun Old for New consumer electronics hardware recycling Gome Guangdong 0493.HK home appliances government initiative government support government subsidy

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

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 Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports