Zhongshan City Drives Economic Growth Through Large-Scale Equipment Updates and Consumer Goods Trade-Ins
In a bold move to stimulate domestic demand and boost economic growth, the National Progress and reform Commission and the Ministry of Finance announced on January 8 the expansion of large-scale equipment updates and consumer goods trade-in policies for 2025. This initiative, part of the “two new” policies, is set to significantly increase the total scale of policy funds compared to the previous year.
Zhongshan City has emerged as a frontrunner in implementing these policies. According to the A Multi-Sector Approach to Economic Revitalization
Table of Contents The city’s strategy focuses on nine key areas, including industrial, energy, construction, and municipal facilities. In April 2024, the textile and clothing, lighting, and panel furniture. The plan encourages enterprises to adopt digital, bright, and green transformations, driving investment and innovation. From January to November 2024, Zhongshan’s industrial technological transformation investment surged by 18.6% year-on-year, ranking sixth in the province and third in the Pearl River Delta. This growth rate is 8.4 percentage points higher than the provincial average of 10.2%. Additionally, 621 industrial enterprises completed technological transformation registrations, surpassing the annual provincial target. The city has also made strides in energy infrastructure. Through the implementation of distribution network upgrades, 28 new projects were completed, including the Times Electric modernization presentation village initiative. These efforts have enhanced local electricity safety and convenience. Furthermore, the renovation of household meter reading in four provincial industrial parks is expected to reduce end-user electricity costs by approximately 1.5 million yuan annually. In the construction field,zhongshan has prioritized the installation of elevators in existing residences,investing 10.3 million yuan to subsidize 103 elevators. The city also included 258 communities in its old community renovation reserve library, with 132 new communities starting construction and 77 undergoing renovations in 2024. Zhongshan has allocated approximately 52.76 million yuan to upgrade municipal facilities, including the purchase of sanitation vehicles, cleaning ships, and compression equipment. Additionally, 7.41 kilometers of gas pipeline networks were upgraded,with an investment of 5.52 million yuan to improve infrastructure in city towns. | Sector | Key Achievements | Economic Impact | As Zhongshan City continues to implement these policies, the focus remains on fostering sustainable growth and improving quality of life for its residents. The success of these initiatives underscores the potential of large-scale equipment updates and consumer goods trade-ins to drive economic recovery and innovation. For more insights into China’s economic policies, explore the State Council’s action plan and stay updated on how these measures are transforming industries nationwide. Zhongshan City is making meaningful strides in modernizing its infrastructure and boosting local consumption through a series of equipment upgrades and trade-in initiatives. From agriculture to education, healthcare, and transportation, the city is investing heavily to improve efficiency, sustainability, and quality of life for its residents. In the agricultural sector, Zhongshan has allocated approximately 252,000 yuan to promote the intelligent upgrading and transformation of livestock and poultry farms.This initiative aims to enhance productivity and sustainability in rural areas. Additionally, the city has completed the scrapping and dismantling of 13 outdated agricultural machinery units, supported by subsidy funds of around 155,000 yuan. These efforts are part of a broader push to modernize farming practices and reduce environmental impact. The education sector has also seen significant investments, with 19.1679 million yuan dedicated to upgrading facilities and equipment in municipal schools. Key improvements include the replacement of 1,650 old air conditioners, 4,970 student dormitory beds, and 4,206 dormitory cabinets. Furthermore, 1,100 desks and chairs and 287 new air conditioners have been installed in canteens and dormitories. Higher vocational and secondary vocational schools have not been left behind. Thay have identified 54 equipment update projects, with plans to upgrade 3,563 units (sets) of equipment in 2024 alone, backed by an investment of 16.8679 million yuan. These upgrades are expected to enhance the learning experience and prepare students for the demands of a modern workforce. Zhongshan’s cultural and tourism sectors are also benefiting from these modernization efforts.The city has invested 6.5639 million yuan to update cultural tourism equipment and approximately 30 million yuan to renovate the Sun Yat-sen Former Residence Memorial Hall,a key ancient landmark. In healthcare, public hospitals are planning to update 1,228 units (sets) of medical equipment between 2024 and 2027. So far, 305 units (sets) have been purchased, with an investment of 26.909 million yuan. These updates are expected to improve patient care and streamline medical services. The transportation sector is undergoing a green transformation. Zhongshan has allocated 2.955 million yuan in subsidies to replace outdated trucks with new energy or National VI emission standard vehicles. Additionally, 25 new energy buses have been equipped with updated battery systems, supported by a subsidy of 1.05 million yuan.These changes aim to reduce emissions and improve the city’s air quality. One of the most impactful initiatives is zhongshan’s trade-in campaign for consumer goods, focusing on automobiles and home appliances. As its launch, the city has facilitated the trade-in of 20,500 cars, stimulating 3.22 billion yuan in consumption. Similarly, 299,000 old appliances have been replaced, generating 1.059 billion yuan in sales. This campaign has not only driven economic growth but also encouraged residents to adopt more energy-efficient and environmentally pleasant products. | Sector | Investment/Subsidy (yuan) | key Achievements | Zhongshan City’s comprehensive approach to equipment upgrades and consumer trade-ins is setting a benchmark for sustainable development and economic growth. By investing in modern infrastructure and encouraging the adoption of energy-efficient products,the city is not only improving the quality of life for its residents but also paving the way for a greener,more prosperous future. For more updates on zhongshan’s initiatives, visit Eastmoney and explore how these efforts are transforming the region.Zhongshan’s Green transformation and Consumer Trade-In Initiatives Drive Economic Growth In a bold move to revitalize its economy and promote sustainable development, Zhongshan City has implemented a series of innovative policies aimed at boosting consumer spending and fostering green industrial practices. These measures, including trade-in programs for old cars and home appliances, have already driven consumption to over 4 billion yuan by 2024, according to a report by the Guangzhou Daily. Zhongshan’s proactive approach to stimulating the economy has centered on encouraging citizens to upgrade their household goods and vehicles. The city issued key documents such as the “Zhongshan City’s Work Plan for Promoting Trade-in of Consumer Goods for New” and the “Zhongshan City’s Special Action Plan for the Remediation of Abandoned Cars.” These initiatives have not only made it easier for residents to trade in old items but have also significantly boosted the second-hand market. From January to November 2024, the city recorded 120,000 transactions in the second-hand car market, while 15,200 vehicles were scrapped. This surge in activity has breathed new life into the automobile and home appliance sectors, providing citizens with the convenience of upgrading while contributing to the overall economic growth. Beyond consumer trade-ins, Zhongshan has also prioritized the digital and green transformation of its industrial sector. The city has held multiple “Ten Chains, Hundreds, Thousands of enterprises” industrial chain and supply chain matchmaking conferences, fostering collaboration and innovation among businesses. consequently,1,032 enterprises above regulatory standards have undergone digital transformation,achieving a remarkable 76.44% digital transformation rate. additionally,Zhongshan has emerged as a leader in sustainable manufacturing,with 18 companies recognized as green factories by the Ministry of Industry and data technology. The city’s commitment to sustainability is further highlighted by the recognition of 6 companies as green supply chain management enterprises, 66 products as green design products, and the acquisition of 338 green product certifications. These achievements underscore Zhongshan’s dedication to balancing economic growth with environmental responsibility. | Initiative | Key achievements | Zhongshan’s dual focus on consumer-driven initiatives and green industrial practices has set a benchmark for other cities aiming to achieve sustainable economic growth. By leveraging trade-in programs and fostering innovation in the industrial sector, the city has not only boosted local consumption but also positioned itself as a leader in environmental stewardship.As the global economy continues to evolve,Zhongshan’s approach offers valuable insights into how cities can balance economic development with sustainability. For more details on these initiatives, visit the original report by the Guangzhou Daily. What are your thoughts on Zhongshan’s innovative strategies? Share your views in the comments below! Zhongshan’s commitment to sustainability extends beyond consumer trade-ins. The city has actively promoted the adoption of green technologies and practices across various sectors. For instance, the transportation sector has seen a meaningful shift toward new energy vehicles (NEVs) and stricter emission standards. The replacement of outdated trucks with eco-friendly models and the upgrading of bus fleets with advanced battery systems have contributed to a noticeable reduction in carbon emissions and improved air quality. In agriculture, the intelligent upgrading of livestock and poultry farms has not only enhanced productivity but also minimized environmental impact. By integrating smart farming technologies, Zhongshan is setting an example for sustainable rural growth. The combined impact of these initiatives has been considerable. The trade-in programs alone have generated over 4.279 billion yuan in sales, providing a significant boost to the local economy. Additionally, the modernization of infrastructure in education, healthcare, and cultural tourism has improved the quality of life for residents, making Zhongshan a more attractive place to live and work. The city’s focus on vocational education and equipment upgrades has also prepared students for the demands of a modern workforce, ensuring that the next generation is equipped with the skills needed to thrive in a rapidly evolving economy. Zhongshan’s innovative policies and investments have positioned the city as a leader in sustainable development and economic revitalization.By prioritizing green technologies, modern infrastructure, and consumer-friendly initiatives, Zhongshan is not only addressing current challenges but also laying the groundwork for long-term prosperity. as these efforts continue to gain momentum, Zhongshan serves as a model for other cities aiming to balance economic growth with environmental stewardship. For more information on Zhongshan’s initiatives and their impact,visit Eastmoney or read the full report by the Guangzhou Daily. Zhongshan’s journey toward a greener, more prosperous future is a testament to the power of strategic planning and community engagement. By embracing innovation and sustainability, the city is setting a new standard for urban development in the 21st century.
Industrial Sector: A catalyst for Growth
Energy Sector: Modernizing Infrastructure
Construction Sector: Enhancing Livability
Municipal Facilities: Investing in Public Services
Key Achievements at a Glance
|————————–|————————————————————————————-|———————————————|
| Industrial | 18.6% YoY growth in technological transformation investment; 621 enterprises upgraded | Surpassed provincial targets |
| Energy | 28 new projects completed; 77 households renovated for meter reading | Annual savings of 1.5 million yuan expected |
| Construction | 103 elevators subsidized; 258 communities in renovation reserve | Improved residential accessibility |
| Municipal Facilities | 7.41 km of gas pipelines upgraded; 52.76 million yuan invested in sanitation | Enhanced public infrastructure | Looking Ahead
Zhongshan City Drives Economic Growth Through Equipment Upgrades and Consumer Trade-Ins
Agricultural and Rural Upgrades: A Step Toward Smart Farming
Education Sector: Revamping Facilities for a Better Learning Habitat
Cultural, Tourism, and Healthcare: Eye-Catching Investments
Transportation: Embracing New Energy and Sustainability
Consumer Trade-Ins: Boosting the Automobile and Home appliance Markets
Key Investments and Achievements
|————————-|—————————|———————————————————————————-|
| Agriculture | 252,000 | Intelligent upgrades for livestock and poultry farms; 13 agricultural machinery scrapped. |
| Education | 19.1679 million | 1,650 air conditioners, 4,970 beds, 4,206 cabinets, and 1,100 desks replaced.|
| Cultural Tourism | 6.5639 million | Updated cultural tourism equipment; renovated Sun Yat-sen Former Residence Memorial Hall. |
| Healthcare | 26.909 million | 305 medical equipment units purchased; 1,228 units planned by 2027. |
| Transportation | 4.005 million | 25 new energy buses updated; outdated trucks replaced with eco-friendly models. |
| consumer Trade-Ins | N/A | 20,500 cars and 299,000 appliances traded in, generating 4.279 billion yuan in sales. |Conclusion
Trade-In Programs Fuel Consumer Spending
Green Industrial Transformation Takes Center Stage
Key Highlights of Zhongshan’s Economic Initiatives
|———————————————|————————————————————————————-|
| Trade-in Programs | 120,000 second-hand car transactions; 15,200 scrapped cars (Jan-Nov 2024) |
| digital Transformation | 1,032 enterprises transformed; 76.44% digital transformation rate |
| Green Industrial Recognition | 18 green factories; 6 green supply chain enterprises; 66 green design products |
| Green Product Certifications | 338 certifications obtained | A Model for Sustainable Economic Growth
H more modern, energy-efficient options while concurrently reducing environmental waste. The trade-in programs have also created a ripple effect, stimulating related industries such as manufacturing, retail, and recycling. Green Industrial Practices and Environmental Benefits
Looking Ahead
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