China's Ministry of Finance issued an old-for-new trade-in auto program for 2012, to boost the auto market and facilitate its emissions-reduction efforts.
The southwestern city of Chongqing will subsidize purchases of vehicles made in the city, becoming the first local government to offer such incentives.
China may include solar products in a home appliance subsidy scheme for rural buyers in a bid to boost domestic consumption and the green industry, a local newspaper reported Thursday.
China will start amassing a special fund from July this year to subsidize the cost of dealing with waste electrical and electronic equipment.
A new wave of subsidies for energy-saving appliances is expected to roll out nationwide after a similar program mostly ended one year ago.
The State Council, China's cabinet, agreed to revive financial incentives for consumers to trade in their passenger cars to help increase demand in the world's biggest vehicle market.
China will provide financial subsidies of 26.5 billion yuan ($4.2 billion) to stimulate the consumption of energy-saving products, mainly automobiles and household appliances, said the State Council.
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