State Council Issues Action Plan to Promote Large-Scale Equipment Updating and Trade-In of Consumer Goods
Recently, the State Council has issued the “Action Plan for Promoting Large-Scale Equipment Updating and Trade-In of Consumer Goods” in an effort to accelerate the construction of a new development pattern and promote high-quality development. The plan, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, aims to implement the spirit of the 20th National Congress of the Communist Party of China and the deployment of the Central Economic Work Conference.
The Action Plan focuses on four major actions: equipment updates, consumer goods trade-ins, recycling, and standard improvements. By 2027, the plan aims to increase equipment investment in various fields by more than 25% compared to 2023, improve energy efficiency in key industries, increase digital R&D tools penetration rate, and promote the recycling of scrapped cars and household appliances.
The plan includes 20 key tasks spread across five aspects. These include promoting equipment update actions in key industries, accelerating renewal in construction and municipal infrastructure, supporting transportation equipment and old agricultural machinery renewal, and improving educational, cultural, tourism, and medical equipment levels.
Furthermore, the plan outlines actions for consumer goods trade-ins, such as promoting the trade-in of old cars and home appliances, and encouraging the replacement of home improvement consumer goods. It also emphasizes the importance of recycling and recycling actions, as well as strengthening policy guarantees including fiscal support, tax policies, financial support, factor protection, and innovation support.
The State Council emphasizes the importance of all regions and departments working under the centralized and unified leadership of the Party Central Committee to implement the Action Plan effectively. Specific plans and policies will be formulated to ensure the successful implementation of the tasks outlined in the plan.
The Action Plan is a comprehensive and strategic approach to promote large-scale equipment updates and the replacement of old consumer goods with new ones, ultimately aiming to improve the quality and level of the national economic cycle.
By Wen Jing, Edited by Duan Lian Du Bo, Proofread by Cheng Peng.