Following approval from China's State Council, the Ministry of Finance and the National Development and Reform Commission have jointly initiated a project to benefit consumers with energy-saving products.
Under the project, China's central finance department will provide subsidies to companies whose products reach a defined energy efficiency level before the products are sold at the subsidized price to consumers. Furthermore regions with favorable conditions are encouraged to arrange special funds to support the promotion of energy efficient products.
According to a circular issued by the two departments, products with the greatest potential in saving energy will be subsidized. The detailed categories of products to receive the subsidies will be soon determined. It is said that these products will be subsidized until they gain a certain market.
It is understood that air conditioner will be the first home appliances to receive the subsidies, which range from CNY300 to CNY850 for each air conditioner product.
