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Huangpu unveils major plan to boost equipment upgrades and consumer trade-ins

Updated : 2024-05-06

Guangzhou's development district and Huangpu district have introduced a pioneering initiative aimed at driving large-scale equipment upgrades and consumer goods trade-ins. This marks the first county-level implementation plan of its kind in the country.

The comprehensive plan focuses on four key actions: equipment renewal, consumer goods trade-ins, recycling, and standard improvements. By 2027, the district aims to increase equipment investment by over 30 percent compared to 2023 levels, leveraging a combination of enhanced financial support, improved tax policies, and strengthened financial incentives.

Guangzhou's Huangpu district, renowned for its manufacturing prowess and consumer market, is poised to capitalize on the vast potential of equipment renewal and trade-ins. The district's officials managing development and reform affairs highlighted the significant demand for equipment upgrades driven by industrial transformation and the expanding consumer market.

The initiative seeks to accelerate industrial transformation by integrating digitalization, intelligence, and sustainability into manufacturing processes. This effort not only enhances industrial competitiveness but also introduces energy-efficient and environmentally friendly products into residents' daily lives, thereby improving overall quality of life.

To facilitate these objectives, the district plans to establish platforms for supply-demand coordination, secondhand trading, and recycling. These initiatives will not only boost equipment upgrades but also promote the circulation and reuse of consumer goods.

The plan includes a range of supportive policies such as streamlined technological transformation incentives, optimized fiscal and tax policies, and innovative financial measures tailored to encourage consumer trade-ins and enterprise development.

This plan underscores Huangpu's commitment to advancing industrial and consumer sectors through innovation and sustainable practices, heralding a new engine of economic growth and environmental stewardship for Guangzhou.

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