The National Development and Reform Commission held a special press conference on September 24 to introduce the progress, effectiveness and typical practices of the equipment renewal action.

    Liu Dechun, director of the Department of Resource Conservation and Environmental Protection of the National Development and Reform Commission, said that promoting large-scale equipment renewal has continued to achieve new progress and new results. At present, 150 billion yuan of ultra-long-term special treasury bonds has been allocated to the project in two batches, supporting a total of more than 4600 projects in the fields of industry, environmental infrastructure, transportation, logistics, education, culture and tourism, medical care, energy-using equipment, energy and electricity, and old buildings. Preliminary estimates show that this year's equipment renewal projects supported by national debt funds have a total investment of nearly 800 billion yuan, which can drive the renewal of more than 2 million units (sets) of various types of equipment, resulting in an energy saving of about 25 million tons of standard coal per year.

    Liu Dechun said that positive progress has been made in equipment renewal in key areas, and its role in stabilizing growth and promoting transformation continues to emerge. In terms of equipment renewal in the industrial sector, large-scale equipment renewal policies support investment growth. From January to August this year, investment in the purchase of equipment, tools and equipment increased by 16.8% year-on-year, which was 13.4 percentage points higher than the total investment, and contributed 64.2% to the total investment growth, an increase of 3.5 percentage points from January to July. Large-scale equipment renewal policies promote industrial transformation, the pace of transformation and upgrading of traditional industries is accelerating, and investment in technological transformation in the manufacturing industry continues to grow in double digits. New driving forces for the development of the manufacturing industry are constantly cultivated and strengthened. In August, the added value of equipment manufacturing and high-tech manufacturing increased by 6.4% and 8.6% respectively year-on-year, faster than the added value of all industries above designated size by 1.9 and 4.1 percentage points respectively. Source: Sinochem New Network