China on Wednesday said it will subsidize energy-saving home appliances, automobiles and other electric items to the tune of 36.3 billion yuan ($5.8 billion) to boost domestic consumption after a similar scheme ended last year.

The State Council, China's Cabinet, said in a statement that the subsidy for energy-efficient consumer products may stimulate domestic consumption as well as push forward economic restructuring.

Air conditioners oakley eyepatch 2 clear grey sunglasses, television sets and other electric appliances will get a subsidy of 26.5 billion yuan, while 2.2 billion yuan will be for energy saving lamps and LED lamps. Another 6 billion yuan will be used to subsidize purchases of automobiles with engines of 1.6 liters and under.

The new plan is expected to add 500 billion yuan of domestic consumption, according to Wang Jun, deputy director of the research department under the China Center for International Economic Exchanges.

The scheme will help make consumption of home appliances a new growth area to boost the economy, Wang added.

Home appliance sales fell in the first quarter after a previous subsidy program expired at the end of last year.

In Q1, the sales of home appliances dipped 0.53 percent annually and that of air conditioners and electrical heaters sank 3.2 percent and 24.8 percent, respectively, the Ministry of Commerce said last week.