With an annual scale of 5 trillion yuan, China is deeply exploring the potential of equipment renewal. The "Action Plan" focuses on energy conservation and emission reduction, ultra-low emissions, safe production, digital transformation, intelligent upgrading.
The Bank of China Research Institute believes that this round of equipment upgrading will further boost overall investment growth. The agency estimates that China's fixed asset investment may increase overall by 1.2 to 1.5 percentage points as a result of the equipment upgrade. It is initially estimated that equipment renewal will be a huge market with an annualscale of more than 5 trillion Yuan.