16 November 2012 08:07 [Source: ICIS news]
Under the programme, farmers can receive subsidies of up to 13% based on the prices of designated types of home appliances, including televisions, refrigerators, washing machines, air conditioners and computers.
The programme came into effect from December 2007 and is part of the government’s efforts to stimulate rural consumption and boost the country’s economic growth.
An industry source said that the ending of the scheme will have limited impact on home appliances’ upstream markets, such as the acrylic-butadiene-styrene (ABS) market, as home appliance demand is soft even with the subsidy programme.
Additional reporting by Iris Xi
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