August 26, 2024 (InvestinChina.asia) – China’s Ministry of Commerce, along with three other government departments, has announced a second round of its appliance trade-in program. The initiative aims to encourage consumers to upgrade to more energy-efficient appliances by offering substantial subsidies.
Key Points
- Subsidy Details: Consumers who purchase appliances with energy efficiency ratings of 2 or higher will receive a 15% subsidy on the final sales price. For appliances rated 1 or higher, an additional 5% subsidy is available.
- Eligible Products: The program covers eight categories of appliances: refrigerators, washing machines, televisions, air conditioners, computers, water heaters, cooktops, and range hoods.
- Maximum Subsidy: Each consumer can receive a maximum subsidy of 2,000 yuan per eligible product, with a limit of one subsidized item per category.
- Funding: The subsidies will be funded jointly by central and local governments.
Implementation
- Efficient Payment Methods: To expedite the process and improve consumer experience, the program encourages the use of immediate discounts and issuance of personalized vouchers.
- Immediate Benefits: The goal is to ensure that consumers receive the financial benefits quickly and easily.