China to promote equipment renewals, trade-ins of consumer goods

The State Council released an action plan to promote large-scale equipment renewals and trade-ins of consumer goods, according to a circular issued on March 13.

By 2027, the investment scale of equipment in industries, agriculture, construction, transportation, education, culture and tourism, and healthcare should increase by more than 25 percent compared to the level registered in 2023.

In industrial enterprises above the designated size, the penetration rate of digital research and development and design tools should exceed 90 percent, while the numerical control rate of key processes should exceed 70 percent by 2027.

Meanwhile, vigorous efforts should be made for renewal and technological transformation of manufacturing equipment, energy consuming equipment and power generation, transmission and distribution equipment to achieve energy saving and carbon emission reduction, ultra-low emission, safe production, digital transformation and smart upgrade in key sectors, the circular said.

The circular also urged to accelerate the renewal of equipment of buildings and municipal infrastructure.

Urban buses should continue to be replaced into electric ones, and new energy ships powered by electricity, liquefied natural gas, biodiesel and green methanol should be applied in a broader scope.

More support should be given for eligible universities and vocational colleges to upgrade equipment for teaching and scientific research, while medical institutions also should be supported to upgrade their equipment and digital facilities.

According to the action plan, trade-ins of consumer goods will be conducted, including vehicles, home appliances and home decorating goods.

To step up recycling and reuse, the recycling network of waste and used products and equipment will be improved, and second-hand goods circulation and trade will be supported.

At the same time, remanufacturing and echelon use will be promoted in an orderly manner, as well as high-level use of renewable resources.

The circular also stressed to refine energy consumption, emissions and technology standards, and improve technical standards of products.