chinese govt subsidies for energy efficiency

The Chinese government announced a new batch of new subsidies to
promote the consumption of energy-efficient home appliances and autos on
Wednesday. RMB6bn will be provided to fuel-efficient vehicles with engines
below 1.6L, and an RMB26.5bn financial subsidy will be provided for energyefficient
appliance products, including all the major white goods products. We
believe that it is a clear signal of the government?s commitment to shift
domestic demand toward more personal consumption and away from fixed
asset investment. We expect subsidies will be RMB1,000–1,500/car for
eligible models (approximately 1–3% of the vehicle retail price), while for white
goods it will be around 10% of the retail price for energy-efficient products.

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