A few days ago, The State Council issued the Action Plan to promote large-scale equipment Renewal and replace old consumer goods with new ones, proposing to coordinate the expansion of domestic demand and deepen supply-side structural reform, implementing four major actions: equipment renewal, replacing old consumer goods with new ones, recycling and recycling, and improving standards, vigorously promoting the production and application of advanced equipment, and promoting the proportion of advanced production capacity to continue to increase. We will bring more high-quality durable consumer goods into people's lives, smooth the recycling chain of resources, and significantly improve the quality and level of economic recycling.

According to the action plan, by 2027, the scale of equipment investment in industry, agriculture, construction, transportation, education, cultural tourism and medical care will increase by more than 25% compared with 2023. The energy efficiency of major energy-using equipment in key industries has basically reached the level of energy conservation, the proportion of production capacity whose environmental performance has reached the A-level has been significantly increased, and the penetration rate of digital research and development and design tools of industrial enterprises above designated size and the numerical control rate of key processes have exceeded 90% and 75% respectively.

In the implementation of equipment renewal actions, the action plan emphasizes the promotion of equipment renewal and transformation in key industries. To promote a new type of industrialization, with energy conservation, carbon reduction, ultra-low emissions, safe production, digital transformation, and intelligent upgrading as important aspects, we will focus on key industries such as steel, nonferrous metals, petrochemicals, chemicals, building materials, electric power, machinery, aviation, shipping, textile, and electronics, and vigorously promote the upgrading and technological upgrading of production equipment, energy-using equipment, and transmission, transmission and distribution equipment. We will accelerate the promotion of energy-using equipment with advanced levels of energy efficiency and energy conservation, and carry out energy-saving and carbon reduction upgrading in different industries and sectors. We will promote the use of intelligent manufacturing equipment and software, accelerate the construction and widespread application of the industrial Internet, and foster a new model of empowering the digital economy. We will strictly implement mandatory standards for energy consumption, emissions, and safety, as well as equipment elimination catalogues, and eliminate substandard equipment in accordance with laws and regulations.

The National Development and Reform Commission said that China is an industrial power, the total industrial added value of 39.9 trillion yuan in 2023, accounting for 31.7% of GDP, manufacturing added value accounted for more than 30% of the global proportion, ranking first in the world for 14 consecutive years. By the end of 2023, the assets of industrial enterprises above designated size in China have exceeded 167 trillion yuan, and the number of key equipment is leading in the world.

Zheng Zhajie, director of the National Development and Reform Commission, said that with the in-depth promotion of high-quality development, the demand for equipment renewal will continue to expand, the preliminary estimate will be a huge market with an annual scale of more than 5 trillion, with the in-depth promotion of new industrialization, the demand for advanced equipment is still growing.

The "Action Plan for Building a modern Textile Industry System (2022-2035)" clearly states that by 2035, the domestic textile equipment domestic market share will exceed 80%, the whole process intelligent spinning production capacity will reach 30 million ingot, the digital and intelligent level of clothing and home textile manufacturing enterprises will be greatly improved, and the per capita production efficiency will be increased by 2 to 3 times. Enterprises above designated size have fully popularized digitalization and networking, built a number of intelligent workshops/factories with international leading level, and the proportion of enterprises with comprehensive digitalization of key business links has exceeded 70%.

The launch of the action plan has undoubtedly laid a solid foundation for the textile industry to achieve the above goals. The action plan also proposes to accelerate the upgrading of equipment in the field of construction and municipal infrastructure, which also provides new opportunities for the application of industrial textiles.

In the implementation of the old consumer goods for new action, the action proposes to carry out the old cars, home appliances, home improvement products for new. Wang Wentao, minister of Commerce, said that promoting the replacement of old consumer goods such as automobiles, household appliances and home improvement kitchen and bathroom is one of the key tasks to promote consumption this year. China's automobile, household appliances, home improvement market has a large comprehensive volume, a considerable number of products have a long service life, high energy consumption and emissions, and some have certain safety risks because of long-term use. It should be said that the potential renewal demand has entered a period of concentrated release. For example, there are more than 16 million passenger vehicles in use of national III and below emission standards, of which more than 7 million are older than 15 years. On average, about 270 million appliances a year are considered to be beyond their safe service life. "Promoting the replacement of old consumer goods with new ones is not only a powerful measure to enhance the current economic growth momentum, consolidate the recovery to the good, but also a long-term strategy to promote high-quality development." Of course, I want to stress that the trade-in is based on the voluntary basis of consumers." Wang Wentao said.

It can be seen that the focus of the textile industry is on automotive textiles and home textiles.

In terms of policy support, the action plan proposes to include qualified equipment renewal and recycling projects into the scope of financial support such as investment in the central budget. We will increase preferential tax support for special equipment for energy conservation, water conservation, environmental protection, and production safety, bring digital and intelligent transformation into the scope of preferential treatment, and guide financial institutions to strengthen support for equipment renewal and technological transformation.

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