SHANGHAI, May 6 (SMM) -- The Ministry of Finance (MOF), the National Development and Reform Commission (NDRC) recently released a notice of adjustment for subsidy program for promoting high-efficiency air-conditioners. Based on the notice, the subsidy policy for high-efficiency air-conditioners will be implemented for a one more year from June 1st 2010. Two-and-above-grade air-conditioners with rated cooling capacity at 7500w and below will enjoy differential central subsidies, with the period extended to May 31st, 2011. In accordance with the latest adjustment, subsidies for 1 and 2-grade, and 3-grade air conditioners will vary from each other in the RMB 150-250 range based on difference in costs. Before the adjustment, subsidies differ from RMB 300 to RMB 850 per unit.
SMM believes hot weather in 2009 and Central Government's large subsidies for air-conditioners have made a great contribution to stimulating China's demand for air-conditioners, helping reduce high energy-consumption products piled up before the global financial crisis. Although the NDRC's decision to extend the period of subsidy program for high-efficiency air-conditioners will continue to boost domestic demand for air conditioners, falling subsidies will reduce the positive impact on consumption improvement. In this context, SMM believes the growth of consumption for air conditioners in 2010 will wane from 2009 levels.
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