¥36b to Subsidize Energy-Efficient Goods
The Chinese government will spend ¥36.3 billion subsidizing purchases of energy-saving products to stimulate retail sales, according to a cabinet meeting. The funds will include ¥26.5 billion for home appliances, ¥6 billion for cars with a displacement below 1.6L, ¥2.2 billion for lamps and ¥1.6 billion for machinery.
Airlines Profit ¥1.8b in Apr
China's carriers reported a combined ¥1.84 billion in gross profits in April, turning around from ¥180 million in the red a month earlier, the Civil Aviation Administration of China said. However, the amount was down 46% from the same month a year ago. Air passenger traffic grew 6.9% year on year to 26.05 million people in April nationwide while air cargo traffic dropped 6.9% to 445,000 tons.
¥500b Earmarked for Wastewater Treatment
China will invest a total of ¥500 billion in wastewater treatment between 2011 and 2015, up from ¥300 billion invested in the previous five year period, according to the Ministry of Environmental Protection and the Ministry of Water Resources.
$1 = ¥6.32