China accelerates large-scale upgrades to industrial facilities - Chinese report

With the continued implementation of the "two new" policy (a policy to encourage large-scale equipment replacement and consumer goods replacement), large-scale equipment replacement in China's industrial sector is gaining momentum.
According to the data, in the first quarter of this year (January to March), the purchase amount of machinery and equipment by companies nationwide increased by 11% compared to the same period last year, with the trend toward high-end and speedy equipment.
The trend towards 'mart' and 'green' is evident. To date, the Ministry of Finance has issued 500 billion former (approximately 10 trillion yen) of super long-term special government bonds to fund facility renewal and consumer goods replacement policies.
This year, China plans to not only continue upgrading its facilities in the fields of industry, energy-using equipment, and electricity, but also expand into the fields of electronic information, safety production, and facility agriculture.
The Ministry of Industry and Information Technology has set a target of increasing China's industrial equipment investment scale by 25% compared to 2023 and increasing the numerical control rate of core processes to 75% by 2027.
He revealed that he would achieve complete digitalization.