This year's Government Work Report proposes to "promote the updating and technological transformation of various production and service equipment" and "encourage and promote the exchange of old for new consumer goods". According to data from the National Development and Reform Commission, with the deepening of high-quality development, the demand for equipment updates is constantly expanding, and it is preliminarily estimated that it will be a huge market with an annual scale of over 5 trillion yuan. In the current economic situation, accelerating product updates and replacements is of great significance for expanding domestic demand, boosting consumption and investment, and promoting high-quality development. On the one hand, encouraging and guiding a new round of large-scale equipment updates and exchanging old for new consumer goods is conducive to tapping into the increment from the stock, promoting the growth momentum of consumption, and accelerating the green transformation of the economy. Currently, the supporting role of consumption in economic development is more prominent, and there is a great demand for equipment updates and the exchange of old for new consumer goods in various industries in China. According to relevant statistics, the investment in equipment in key areas such as industry and agriculture in China reached 4.9 trillion yuan last year, and is expected to continue to expand this year. In terms of durable consumer goods, as of the end of last year, the number of civilian vehicles in China had reached 336 million, and the number of household appliances in major categories such as refrigerators, washing machines, and air conditioners exceeded 3 billion. Some household appliances have been used for a long time, and there is also a great demand for updates and replacements. Accurately matching demand, exploring incremental growth from the vast stock market, and effectively releasing the consumption power from "available" to "excellent" can further consolidate the foundation for economic recovery. On the other hand, implementing large-scale equipment updates and exchanging old for new consumer goods is crucial for promoting economic structural optimization and industrial transformation and upgrading, as well as coordinating the expansion of domestic demand and deepening supply side structural reform, and forming a virtuous cycle of mutual promotion between consumption and investment. Taking industrial equipment as an example, driven by the trend of new industrialization transformation such as intelligence, greening, and digitization, existing high energy consumption, high pollution, and low level of intelligence stock equipment will gradually be replaced. Through upgrading and replacement, new and old kinetic energy will be transformed and productivity will be transformed, promoting the accelerated formation of new quality productivity. Replacing old with new household consumer goods can stimulate home building materials and home appliance enterprises to layout high-end product production lines, driving consumption upgrades with more user-friendly design, more intelligent experience, and more environmentally friendly materials. While recognizing the vast market potential and domestic demand space, it is also necessary to face the difficulties and bottlenecks in current equipment updates and consumer goods trade ins. At present, some industries are experiencing overcapacity. In the process of equipment upgrading and technological transformation investment, it is necessary to have screening and trade-offs, and combine them with supply side structural reform, especially the elimination of outdated production capacity. For consumers, the replacement of large furniture faces difficulties in transportation, processing, and low added value in recycling, which to some extent hinders their willingness to replace. To solve the above problems, it is necessary to combine the government's "tangible hand" with the market's "intangible hand", strike a good combination of fiscal and financial policies, accurately and effectively support equipment updates and consumer goods trade in, and promote the coordinated linkage between production, supply and sales, upstream and downstream, and government, enterprise, and people to promote the formation of a green production and lifestyle in the whole society. Specifically, equipment targeting key industries such as industry, agriculture, construction, and transportation is more effective