Chinese Premier Li Qiang has pledged concrete actions to promote large-scale equipment upgrades and consumer goods trade-ins, aiming to facilitate economic transformation and enhance people's livelihoods.
Speaking at a State Council video conference on Thursday, Li highlighted the strategic importance of the upgrade campaign, emphasizing its potential benefits for the economy, businesses, and individuals.
“This campaign is crucial for driving economic transformation and improving the quality of life for our citizens,” Li said, urging all regions and government departments to prioritize and effectively implement the initiatives.
The campaign, which is market-oriented and government-guided, focuses on four key areas: equipment renewals, trade-ins of consumer goods, recycling of used goods, and raising industrial standards.
China plans to prioritize equipment upgrades in promising industries with strong growth potential. The country will accelerate the phasing out of outdated or inefficient equipment characterized by high energy consumption, high emissions, or safety risks.
Li emphasized the importance of supporting the trade-in of old, costly durable consumer goods that are in high demand and have significant economic impact. “By encouraging consumers to trade in old products for new ones, we can stimulate spending and drive economic growth,” he noted.
Efforts will also be made to expedite the development of recycling systems and promote the large-scale growth of enterprises involved in processing and utilizing renewable resources.
Li called for a gradual elevation of industrial standards to ensure that these upgrades become regular practice, fostering sustainable development.
The meeting was chaired by Vice Premier Ding Xuexiang, with attendance from Vice Premiers He Lifeng and Zhang Guoqing, and State Councilor Wu Zhenglong.
Reference(s):
China pledges efforts of equipment upgrades, consumer good trade-ins
cgtn.com
