China expands equipment subsidy program in 2026 to boost demand, investment, and GDP growth.

In 2026, China is broadening its equipment upgrade subsidy program to boost domestic demand and investment, targeting residential elevators, eldercare facilities, firefighting systems, commercial spaces, aging vehicles, and farm machinery. Subsidies will include tiered support for elevators and incentives for electric vehicle transitions. The initiative aims to stimulate green and smart equipment demand, support small businesses, and generate about 1.1 trillion yuan in fixed-asset investment, contributing 0.7 to 0.8 percentage points to GDP growth. Success depends on project continuity, standard alignment, and transparent funding oversight.