Think Tank

Pry the equipment to update the big market

2025-01-25   

Recently, the 2024 China Economic Annual Report was released. The steady running of the "three carriages" demonstrates the resilience and vitality of China's economy. Among them, the national fixed assets investment (excluding farmers) was 51437.4 billion yuan, an increase of 3.2% over the previous year. In the investment "big plate", there is a data worth paying attention to: the investment in equipment and tools procurement increased by 15.7%, accelerating by 9.1 percentage points compared to the previous year, driving a total investment growth of 2.2 percentage points. The purchase data of equipment and tools is an important indicator for observing the progress of equipment updates in China. Last March, the State Council issued a plan to systematically deploy the promotion of large-scale equipment updates. Subsequently, many regions issued policy guidelines around key areas such as industry, transportation, and education. In July, several measures were introduced to strengthen support for the "two new" projects, and 150 billion yuan of ultra long term special treasury bond funds were arranged as a whole to support equipment upgrading in key areas... With the joint efforts of all parties, large-scale equipment upgrading has continued to achieve new progress and new results. The significance of large-scale equipment updates is not only to drive investment growth, but also to achieve remarkable results in promoting industrial upgrading and other aspects. In 2024, the added value of equipment manufacturing industry above designated size increased by 7.7% compared to the previous year, with a growth rate 1.9 percentage points higher than that of all industries above designated size; The added value of industries such as shipbuilding and related equipment manufacturing, broadcasting and television equipment manufacturing, and lithium-ion battery manufacturing increased by 19.3%, 16.1%, and 8.2% respectively compared to the previous year. It can be said that promoting large-scale equipment updates is not only beneficial for meeting the needs of enterprise development, but also for promoting high-quality industrial development. The Central Economic Work Conference has explicitly requested to strengthen the implementation of the "two new" policies by expanding the encirclement. Since January this year, a series of detailed implementation measures have been intensively introduced: for loan contracts, equipment purchase or renovation service procurement contracts signed before March 7, 2024, and equipment renewal loans issued after March 7 that meet the conditions, they will be included in the scope of financial subsidy policy support; Efforts will be made to promote the electrification of urban buses and replace them with new ones that are 8 years old or older, as well as power batteries that have exceeded their warranty period. The average subsidy per vehicle will be increased from 60000 yuan to 80000 yuan... This will bring tangible benefits to relevant parties. Equipment updates, enterprises are the main body. The key to enhancing the enthusiasm of enterprises lies in fully utilizing policies, further expanding financing channels, and reducing the cost of capital utilization. Last year's practices in various regions have accumulated valuable experience for this year's work. For example, Jiangsu has launched a "equipment guarantee" with a total guarantee scale of 20 billion yuan, and the maximum guarantee limit for a single enterprise is 50 million yuan. For example, Guangdong province and city have jointly organized over 100 industrial equipment updates and technological transformation empowerment activities, such as "supply-demand silver" docking, financial empowerment of manufacturing industry, and "technical transformation service city banks". It should be noted that providing more real gold and silver, strengthening supply and demand docking, will help further break through policy bottlenecks and unleash potential demand. For many enterprises, the current opportunities are rare. This round of equipment updates accurately anchors the development direction of high-end, intelligent, and green. Interested and aspiring enterprises should take advantage of the situation, continuously increase research and development investment, accelerate product iteration and upgrading process, and efficiently replace existing old equipment with new equipment. Small and medium-sized enterprises should actively integrate digital transformation with large-scale equipment updates, technological transformation and upgrading projects, focus on their main business, cultivate meticulously, and seize development opportunities. (New Society)

Edit:Luo yu Responsible editor:Wang xiao jing

Source:ECONOMIC DAILY

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