China to end subsidy program for home appliance purchases on May 31

As stated by the Chinese Ministry of Finance on May 29, China's subsidy program for purchases of energy-efficient home appliances will end on May 29. The home appliances in question include air-conditioners, flat screen TVs, refrigerators, washing machines, and water heaters. The subsidy program came into effect on June 1 last year with the aim of promoting energy conservation, boosting emission reductions, and increasing consumption of the given products. Subsidies ranged from RMB 100 to RMB 400 for each energy-efficient home appliance sold.