China subsidize purchase of energy-efficient home appliances

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China is subsidizing consumers who buy energy-efficient home appliances. Consumers will receive between 300 yuan to 850 yuan for buying one energy-efficient air-conditioner, refrigerator, television, or washing machine.

The National Development and Reform Commission says the move is expected to generate as much as 500 billion yuan of consumption demand and save 75 billion kilowatt hours of power annually. The subsidy program will last three years.