China is offering consumers a 10 per cent subsidy for buying new television sets, washing machines, air conditioners and computers, in a sign that Beijing remains wary over the prospects of an economic rebound.
The government will earmark Rmb2bn ($292m, €215m, £189m) for the new programme, the State Council, the country's cabinet, said on Tuesday. The plan allows consumers in nine of China's wealthiest cities and provinces, including Beijing, Shanghai and Guangdong, to claim 10 per cent of the purchase price of the new electrical goods if they turn in the old one for recycling.
The plan differs dramatically from an earlier “home appliances to the countryside” programme under which Beijing encouraged rural dwellers to buy electronic goods.
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