At an executive meeting of the State Council, it was decided to organize special long-term bond funds for this purpose.

According to the official statement, the government will optimize support for equipment upgrade projects in sectors such as electric power and other key industries.

For example, the State Council referred to increased subsidies to support the renovation of old operating ships and cargo trucks, agricultural machinery and new power buses.

Experts believe that this policy will help create a better market environment, will provide a better environment for expanding domestic demand, and will further stimulate the economy’s endogenous growth.

In this regard, the government will support localities to improve the replacement capacity of used consumer goods, particularly for old cars and appliances, while implementing financial support policies for the collection and treatment of discarded products.

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