Guangdong Province Implements Plan to Promote Large-Scale Equipment Updates and Trade-Ins
On April 13, the Guangdong Provincial People’s Government announced the issuance of the “Implementation Plan for Promoting Large-Scale Equipment Updates and Trade-in of Consumer Goods in Guangdong Province.” The ambitious plan aims to increase the scale of equipment investment in various sectors by more than 25% compared to 2023 by the year 2027.
The plan targets key areas such as industry, energy, agriculture, construction, transportation, education, cultural tourism, and medical fields. It includes measures to improve the energy efficiency and environmental performance of major energy-consuming equipment in key industries. Additionally, the plan aims to increase the adoption of digital R&D and design tools in industrial enterprises and enhance the recycling and dismantling processes for scrapped cars, second-hand cars, and waste electrical appliances and electronics.
Specific goals outlined in the plan include achieving a significant increase in the proportion of production capacity meeting grade 1 environmental protection standards, as well as exceeding 90% penetration rate of digital tools in industrial enterprises above a certain size. The plan also targets an annual recycling and dismantling volume of 800,000 scrapped cars, over 4 million annual transactions of second-hand cars, and 10 million units (sets) of waste electrical appliances and electronics recycled and dismantled annually.
The implementation of this plan is expected to not only contribute to the modernization and sustainability of Guangdong Province’s economy but also set a precedent for other regions to follow suit in promoting large-scale equipment updates and trade-ins.