China has embarked on a significant economic transformation, shifting labor-intensive and energy-consuming industries toward green and smart manufacturing through equipment upgrades to enhance production quality. Utilizing a portion of the additional 1 trillion yuan (US$140b) national bond issued last year for scientific and technological advancements, the State Council announced plans in February to bolster the renewable economy by next year by recycling 60 percent of new bulk solid waste, including metal, plastic and rubber. However, despite the government’s resolve, enterprises remain hesitant to invest in replacements due to capital shortages in an uncertain market. To instill confidence, the central government is distributing consumption coupons, advocating for financial institutions to offer low-interest loans to small businesses, and promoting trade-ins for automobiles and home appliances.
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