China Expands "Old for New" Program Nationwide
21st Century Business Herald, 6/03/10
China's Ministry of Commerce, Ministry of Finance, and Ministry of Environmental Protection jointly released an expansion plan on June 3 for the government-sponsored "Old for New" home electronics recycling program. The plan calls for the program to be expanded nationwide, effective June 1. China's central financial authorities will provide 80% of subsidies, while provincial authorities will cover the remaining 20%.
The program will span 5 eligible product categories: TV sets, computers, refrigerators, washing machines and air conditioners. The original trial areas of Beijing, Tianjin, Shanghai, Jiangsu, Ningbo, Shandong, Qingdao, Guangdong and Shenzhen (SEZ) will continue the program following the end of the program's initial trial term on May 31.
The program expanded to Hebei, Shanxi, Liaoning, Dalian (SEZ), Jilin, Heilongjiang, Anhui, Fujian, Xiamen (SEZ), Jiangxi, Henan, Hubei, Hunan, Chongqing, Sichuan, Guizhou, Shaanxi, Gansu and Qinghai beginning June 1.
The new "Old for New" policy is set to expire on December 31, 2011.
Keywords: Old for New hardware Ministry of Environmental Protection recycling Ministry of Finance Ministry of Commerce government initiative government support government subsidy consumer electronics home appliances retail
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