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HAIER SMARTHOME Spikes 5%+ as CN RMB300B Special Ultra-LT Bonds Support Replacement
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China arranged a RMB300 billion special ultra-long-term national bond fund to support upgrades of large-scale equipment and the replacement of old consumer goods. The funds will be fully allocated by the end of August. Household appliances stocks listed in Hong Kong were prevalent today (26th), with HAIER SMARTHOME (06690.HK) opening 1.63% higher and peaking at $25.95. It last reported at $25.95, up 5.49%, with 8.523 million shares traded, involving $218 million. HISENSE HA (00921.HK) last posted at $25.8, up 5.74%. TCL ELECTRONICS (01070.HK) last stood at $5.21, up 6.11%. SKYWORTH GROUP (00751.HK) last printed at $2.88, up 3.6%. According to the “Certain Measures on Increasing Support for Large-scale Equipment Renewal and Consumer Goods Trade-in” issued by the National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF), individual consumers who purchase refrigerators, washing machines, televisions, air conditioners, computers, water heaters, household stoves and range hoods with Grade 2 and above energy efficiency or water efficiency standards will be given a subsidy for replacing old appliances with new ones. The subsidy standard is 15% of the product's sales price. For the purchase of products with Grade 1 or higher energy efficiency or water efficiency standards, an additional subsidy of 5% of the product's sales price will be given. Each consumer can receive a subsidy for one product of each type, and the subsidy for each product will not exceed RMB2,000. AAStocks Financial News |
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