In the precision manufacturing workshop at Shipai Industrial Park in Ganzhou, Jiangxi province, a skilled worker operates advanced machinery on April 11, 2024. This scene is part of a new initiative focused on large-scale equipment upgrades and consumer product replacements, which is being driven by the government.
The Central Economic Work Conference emphasized the need to promote large-scale equipment upgrades and consumer product replacements in December. Subsequently, the State Council released an Action Plan in March, prompting central government departments and local authorities to swiftly develop detailed plans for implementation. These efforts mark the beginning of a crucial phase that will have far-reaching implications for various sectors of the economy.
