What is the potential for a new round of large-scale industrial equipment updates?
2024-06-24
At present, a new wave of industrial equipment updates is emerging in many parts of the country. Large scale equipment updates are a prerequisite for promoting technological change and industrial upgrading. In order to seize the opportunity and gain a first mover advantage, multiple provinces such as Jiangsu, Zhejiang, and Hunan have successively introduced "local version" plans for equipment updates, clarifying supporting policies such as finance, taxation, and finance, and promoting digital and intelligent equipment updates and technological transformation. According to the development goals set by various regions, industrial equipment investment is expected to usher in a new round of growth peak in the next five years, and will effectively unleash the potential for equipment renewal in the industrial field, increase advanced production capacity, and improve production efficiency. How big is the "plate" for the new round of equipment updates? "By 2027, the investment scale in industrial equipment will increase by more than 25% compared to 2023." According to the Implementation Plan for Promoting Equipment Renewal in the Industrial Sector jointly issued by the Ministry of Industry and Information Technology, the National Development and Reform Commission and other seven departments (hereinafter referred to as the "Plan"), the new round of large-scale equipment renewal includes the elimination of old equipment, upgrading of advanced equipment, energy-saving and carbon reduction transformation, digital transformation, promotion and application of innovative products, and improvement of safety production, covering a wide range of fields, large space, and abundant potential. In 2023, the scale of equipment investment in China's industrial sector reached 4.4 trillion yuan, a year-on-year increase of 8.7%, accounting for more than 70% of the total social equipment investment. On this basis, an additional 25% increase will be made, further enhancing the expectations of various sectors for the new round of equipment updates. Li Yang, Deputy Director of the Planning Institute of CCID Think Tank, stated that equipment is an important input in the production process of enterprises and plays an irreplaceable role in expanding production capacity and improving production efficiency. Equipment investment is a reflection of the medium - and long-term production capacity of industry, promoting large-scale equipment updates in the industrial sector. It is not only a short-term economic stimulus, but also a medium - and long-term measure to consolidate costs and cultivate strength. According to statistics, since the issuance of the "Plan", more than 20 provinces have held deployment meetings for industrial equipment updates and technological upgrades, and more than 10 provinces including Tianjin, Jiangsu, Ningxia, and Heilongjiang have issued implementation plans for industrial equipment updates. Jiangsu Province, a major industrial province, has proposed to focus on key industries to promote equipment updates and technological transformation, and strive to organize and implement more than 6000 technological transformation projects annually. Liaoning Province, the old industrial base, proposed to promote the construction of about 1000 equipment renewal and technological transformation projects every year, and lead the province's industrial fixed assets investment to exceed trillion yuan by 2027... Gong Tianxiao, the deputy director of the Institute of Informatization and Industrialization Integration of the Chinese Academy of Information and Communications, believes that with the deepening of new industrialization, the demand for advanced equipment in the industrial field will continue to grow, with huge market potential, and will further drive investment in related fields. Where does the money for equipment obsolescence and updates come from? The promotion of equipment updates in the industrial sector cannot be separated from the support of fiscal, tax, and financial policies. Currently, various regions are increasing their policy support efforts, focusing on providing genuine financial support for small and medium-sized enterprises, digital intelligent equipment updates, and more. For example, Jiangsu has established a loan guarantee fund of 200 million yuan for the purchase, renewal, and renovation of equipment for small and medium-sized manufacturing enterprises. The equipment purchased by the enterprises for renovation and renovation is used as collateral, supporting guarantee institutions to provide guarantees to the enterprises at an annualized guarantee rate of no more than 1%. The provincial finance department provides a subsidy of 80% of the guarantee fee. The guarantee fee subsidy implements a mechanism of enjoying without review, and enterprises do not need to advance financial subsidy funds. Subsidy funds are pre allocated and settled later. Central enterprises play an important role in promoting a new round of large-scale equipment updates. The relevant person in charge of the State owned Assets Supervision and Administration Commission of the State Council stated that state-owned and central enterprises should accelerate the promotion of advanced equipment updates, focus on improving efficiency and efficiency, advanced production capacity, and independent controllability, strengthen benchmarking with global advanced levels, and update a batch of high-tech, high-efficiency, and highly reliable advanced equipment; At the same time, it is necessary to strengthen organizational leadership, make good use of supportive policies, steadily and orderly promote, and effectively carry out various work, promoting high-quality development of enterprises through large-scale equipment updates. The reporter learned that currently, multiple central enterprises have actively deployed to quickly identify their assets and develop equipment update work plans. At the same time, the roadmap for large-scale equipment updates by local state-owned enterprises is gradually becoming clear. For example, the State owned Assets Supervision and Administration Commission of Liaoning Province has introduced personalized support policies, formulating 10 policy measures around investment projects, budget arrangements, innovation support, and other aspects to provide policy support for enterprise equipment updates and replacements. Heilongjiang Province requires state-owned asset supervision agencies at all levels in the province to organize investment enterprises to quickly understand the basic demand for equipment updates, combine with actual production and operation, formulate equipment update plans, and establish an equipment update project library according to priority. Focusing on solving the problems that arise during equipment updates, the "local version" plans have been intensively released, and the equipment updates of central and state-owned enterprises have been orderly promoted, all of which have brought "acceleration" to this round of equipment updates. According to relevant data, from January to April this year, the added value of industries above designated size in China increased by 6.3% year-on-year, and industrial investment increased by 13%, showing a good growth trend. This also reflects the confidence of enterprises in equipment updates, and the effectiveness of local promotion of equipment updates. "Each region should combine the actual development of local industries, promote updates with focus and targeted measures, and not make changes for the sake of improvement." Gong Tianxiao stated that in the process of promoting equipment updates, various regions should strengthen the overall planning of equipment updates and industrial transformation and upgrading, use equipment upgrades to drive industrial upgrading, and promote the high-end, intelligent, and green development of traditional manufacturing industry. At the same time, we need to increase support for equipment updates in finance, taxation, and other aspects, strengthen support and guarantee for talents, land, and other factors, create an environment conducive to enterprise equipment updates, and strengthen the confidence of enterprise equipment updates. "After replacing with a new equipment manufacturer or upgrading to the same factory equipment, there may be situations such as incompatibility with existing equipment systems, long debugging cycles, and lack of professional technical personnel." Li Yang believes that local governments should continue to track the progress of enterprise equipment updates, timely identify and solve problems, and leave sufficient time for coordination when both supply and demand sides choose each other. Li Yang suggests that we should do a good job of supply and demand coordination. Equipment manufacturers can sort out past installation situations and remind users of devices that may exceed their service life; The user can also propose a list of equipment that needs to be replaced and release information to relevant equipment manufacturers to ensure sufficient market competition. (Lai Xin She)
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