Overview of Key Policies

The "Action Plan" proposes the following:

Promoting Equipment Upgrades in Key Industries: Focus on key industries such as steel, non-ferrous metals, petrochemicals, chemicals, building materials, power, machinery, aviation, shipbuilding, light textiles, and electronics. Efforts will be made to vigorously promote the upgrading and technological transformation of production equipment, energy-use equipment, and power transmission and distribution equipment.

Enhancing Education, Culture, Tourism, and Medical Equipment Standards: Support eligible universities and vocational schools (including technical schools) in updating and replacing advanced teaching and research equipment to improve teaching and research standards. Strictly implement the standards for the allocation of subject teaching equipment, ensuring quality and quantity, and timely updating of teaching instruments and equipment.

The national policy direction presents significant opportunities for high-end domestic scientific instrument companies. Against the backdrop of the State Council's recently issued "Action Plan for Promoting Large-Scale Equipment Upgrades and Old-for-New Initiatives in Consumer Goods," coupled with the recently released "Management Measures for VAT Refunds on Domestic Equipment Purchased by R&D Institutions," domestic instruments are expected to become a crucial choice for equipment upgrades and import substitution.