Beijing's municipal government has introduced a comprehensive plan to stimulate the replacement and upgrade of equipment and consumer goods across the city, Xinhua reported on Sunday. The plan outlines 23 key measures targeting various sectors: * Upgrading public transportation systems like rail transit. * Modernising heating and natural gas infrastructure. * Advancing educational and medical equipment. * Promoting green initiatives and intelligent computing in data centers. * Encouraging the replacement of older vehicles. The new initiative is expected to unlock significant market opportunities for businesses involved in these sectors. According to Lai Xianyu, deputy director of the Beijing Municipal Commission of Development and Reform, Beijing's existing machinery, equipment, and consumer goods inventory has reached a peak replacement point. This large base creates a strong demand for upgrades and trade-ins. As highlighted by Zhao Weidong, deputy director of the Beijing Municipal Commerce Bureau, the government is set to promote smart household appliances and modern home furnishings, focusing on eco-friendly and innovative products. Consumers purchasing these items may benefit from subsidies amounting to 10 per cent of the product price, capped at 1,000 yuan (about $138) per item.
