Title: China Focuses on Promoting Investment and Consumption Through Large-Scale Equipment Updates and Trade-Ins
In a recent meeting of the Central Financial and Economic Commission, held on February 23, it was highlighted that the implementation of large-scale equipment updates and the replacement of old consumer goods will have a positive impact on investment and consumption in China. This move is expected to benefit both the current economic situation and long-term development.
The meeting emphasized the importance of studying the issue of large-scale equipment renewal and trade-ins of consumer goods, as well as effectively reducing logistics costs for the entire society. It was noted that implementing a good policy combination will help increase the proportion of advanced production capacity, introduce high-quality durable consumer goods into residents’ lives, promote the recycling of waste resources, and significantly enhance the quality and level of the national economic cycle.
Furthermore, the meeting called for the promotion of updating and technological transformation of various production and service equipment, encouraging the trade-in of traditional consumer goods like automobiles and home appliances, and boosting the trade-in of durable consumer goods. The development of a robust “replacement + recycling” logistics system and new models was also emphasized to support the process.
Chinese President Xi Jinping emphasized the importance of accelerating product upgrading as a crucial measure to promote high-quality development. He called for the encouragement and guidance of a new round of large-scale equipment renewal and trade-ins of consumer goods during his speech at the meeting.
The focus on durable consumer goods, national economic cycles, and efficient logistics systems will be crucial in driving economic growth and sustainability in China. This strategic approach to promoting investment and consumption through equipment updates and trade-ins aligns with the country’s goal of achieving high-quality development.
China Daily English Dianjin Studio was the first to report on this news, providing insights into China’s efforts to enhance its economic landscape through strategic policies and initiatives.
(Editor in charge: Chen Danni)