China’s state planner has called for more investment in equipment upgrades to help support the energy transition, saying the market should play a leading role.
The investments will support a program of equipment upgrades and consumer goods trade-ins launched by China’s cabinet in March, the notice said. That program seeks to boost investment and consumption amid a shaky economic recovery. It also calls for financial institutions to increase their support for equipment upgrades and extend more medium– and long-term loans to the manufacturing industry.
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