Media reports said yesterday that Dazhong Electronics will stop its “Old for New” service ahead of schedule, a rumor that were denied by the home appliance retailer’s statement that it did not have such arrangement.

 

Relative authorities from Beijing Municipality made it clear that “Old for New Policy in Home Appliance” will expire on December 31, 2011. However, there was news yesterday that “Reporters got information from Dazhong Electronics’ Zhongta Branch and Yangqiao Branch that it will stop its call-out service for old home appliances.” It also said that such a move in ending state policy without authorization harmed the interests of consumers who have yet to benefit from it.

 

In the statement, Dazhong Electronics said it did not change the “Old for New” policy in any form and it will provide subsidies in strict accordance with state regulations. As for its expiration time and other information, Dazhong will follow the policy closely.