Subsidy program fails to spur home appliance sales
Updated: 2012-05-07 15:36
(Xinhua)
|
||||||||
BEIJING - A nationwide subsidy program for rural consumers failed to spur home appliance sales in rural China amid the economic slowdown in the first four months of this year, according to data released by the Ministry of Commerce (MOC) on Monday.
Home appliance sales in China's countryside fell 6.7 percent year-on-year to stand at 61.68 billion yuan ($9.8 billion) from January to April, the MOC said in a statement posted on its website.
The volume of appliances sold in the period dropped 16.7 percent to hit 23.34 million units, according to the MOC.
As of the end of April, China had subsidized 241 million units of home appliances valued at 567.49 billion yuan over the past two-and-a-half years since the subsidy program began, according to MOC data.
Initiated in 2009 to stimulate rural consumption and buoy the nation's economic growth amid the global economic downturn, the subsidy program will be effective until January 2013.
Under the program, farmers can receive subsidies equal to 13 percent of the price of the home appliances they buy.
- Relief reaches isolated village
- Rainfall poses new threats to quake-hit region
- Funerals begin for Boston bombing victims
- Quake takeaway from China's Air Force
- Obama celebrates young inventors at science fair
- Earth Day marked around the world
- Volunteer team helping students find sense of normalcy
- Ethnic groups quick to join rescue efforts
Most Viewed
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
American abroad |
Industry savior: Big boys' toys |
New commissioner
|
Liaoning: China's oceangoing giant |
Today's Top News
Health new priority for quake zone
Xi meets US top military officer
Japan's boats driven out of Diaoyu
China mulls online shopping legislation
Bird flu death toll rises to 22
Putin appoints new ambassador to China
Japanese ships blocked from Diaoyu Islands
Inspired by Guan, more Chinese pick up golf
US Weekly
Beyond Yao
|
Money power |