"Old-for-new" program recorded home appliance sales of over 8 bln yuan

By November 16, sales of the home appliances "old-for-new" program, which aims to encourage more consumers to buy new household appliances on a basis of discount if they give up their old ones to sellers, have exceeded 8 billion yuan, according to data released by the Ministry of Industry and Information Technology (MIIT).

Since this pilot program was initiated in 9 municipal cities and provinces 3 months ago, a total of 2.39 million used home appliances were recycled.

Hao Yabing, deputy director of China Video Industry Association, noted that the "old-for-new" program helped to promote the recycling of steel, nonferrous metal, plastics and rubber from the used home appliances, boosting the development of cyclic economy.

Experts calculated that in 2009, China will have around 90 million scrap home appliances, indicating the great potential for the "old-for-new" program.

The "old-for-new" program would contribute to industry transformation in China, said Hao.

"The program will be introduced to the whole country," he predicted.

By People's Daily Online