Beijing increases subsidy for energy-efficient bulbs
Beijing doubled its quota for subsidizing energy-efficient light bulbs, saying the government would subsidise 100 million bulbs in 2009, compared to 50 million in 2008.
A 30-percent subsidy will be offered on wholesale purchases and a 50-percent subsidy on retail sales.
Since the government started subsidising the bulbs, 62 million have been sold under the program, saving 3.2 billion kwh of electricity, according to the Ministry of Finance press release.
Bulb producers Xiamen Faratronic Co.(SH:600563) and Foshan Ecletrical and Lighting co.(SZ:000541) both rose by 2.40 percent and 3.53 percent, respectively.
Other energy efficient bulb producers include: JiLin Sino-Microelectronics Co.(SH:600360), which declined 0.9 percent and Zhejaing Yankon Group Co.(SK:600261), Asia’s largest energy-efficient bulb producer, which declined 5.99 percent.
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