China RoundUp June 04

• Source: The Global Times
• [00:58 June 04 2009]
• Comments

Trade up, cash in

People who trade-in their old mid- and small-sized trucks, and some types of mid-sized passenger cars for new ones will be entitled to rebates of between 3,000 yuan ($450) and 6,000 yuan, the National Development and Reform Commission said yesterday.

Also, people who hand their old home appliances over to recycling plants will be able to claim vouchers that can be redeemed against the cost of new ones, it said.

The government has allocated 5 billion yuan to subsidize the auto replacement scheme and 2 billion yuan to finance home appliance upgrades in a bid to spur domestic consumption and reduce pollution.