The People's Government of Shandong Province has recently issued the Action Plan for Promoting Large-scale Equipment Renewals and Consumer Goods Trade-ins in Shandong, emphasizing that by 2027, the scale of equipment investment in key areas will increase by more than 28% compared to 2023.

The plan proposes the implementation of high-level industrial technological transformation projects, customized transformative upgrade plans for traditional industries as per the principle of "one policy for one industry," and the execution of actions to elevate the digital transformation of manufacturing to boost industries toward high-end, intelligent renovations, and green transformation. The plan involves executing equipment renewal projects across multiple sectors, focusing on areas such as agriculture, transportation, housing construction, education, culture and tourism, and healthcare, outlining key tasks, support measures, and progressive initiatives for equipment renewals, and guiding various sectors to make greater use of advanced equipment. By carrying out projects to upgrade the quality of supply, the plan aims to enhance the proportion of advanced production capacities, the output of high-quality products, industrial innovation capabilities, and the quality and branding of products, thereby helping enterprises to strengthen their capacity to supply high-end products, launch more marketable products, seize opportunities, expand markets, make the utmost use of policy benefits, and promote the industrial upgrade.