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Shenzhen to offer subsidies for equipment renewal

Shenzhen has introduced a set of 50 measures to provide subsidies for equipment renewal and trade-in of consumer goods across seven key fields, Shenzhen Special Zone Daily yesterday.

The city’s objective is to stimulate investment and consumer expenditure, aiming to stimulate over 180 billion yuan (US$24.88 million) in investment and consumption by 2025.


Shenzhen skyline. File photo

The action plan specifies that by 2025, the investment for equipment across various sectors including industrial, architectural, transportation, education, culture and tourism, and health care will increase by more than 20% compared to 2023. There will be a concerted effort to enhance infrastructure in essential sectors such as electricity, water management, gas, and the installation of charging stations.

In terms of manufacturing, the city aims to establish 200 industrial internet demonstration projects by 2025. These initiatives aim to reduce carbon emissions in sectors like integrated circuits, displays, batteries, and pharmaceuticals.

The city also plans to expand its network of direct and indirect charging stations. By 2024, Shenzhen aims to have constructed a minimum of 1,000 supercharging stations capable of delivering more than 480 kilowatts of power. To bolster renewable energy efforts, the city will facilitate the widespread adoption of distributed photovoltaic projects, targeting an additional capacity of 1.5 million kilowatts by 2025.

To further encourage sustainable practices, Shenzhen is urging residents to exchange their old vehicles for new ones and enhancing subsidies for buying environmentally friendly cars.

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