China unveils action plan for large-scale equipment renewal, targeting 25% increase in investment by 2027.
China has unveiled an action plan to encourage large-scale equipment renewal and the trading-in of consumer goods, including automobiles and home appliances. The State Council aims to increase equipment investment in sectors like industry, agriculture, and healthcare by 25% by 2027 compared to 2023, supporting the government's efforts to boost economic growth and improve resource recycling.
March 13, 2024
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