Currently, ministries and localities are focusing on investment-driven growth, accelerating the start of industrial projects, and promoting the implementation of industrial enterprises to accelerate technological transformation, upgrading, and equipment renewal projects. Data from the Ministry of Industry and Information Technology shows that there are currently about 36,000 industrial projects under construction and starting within the year, which are expected to drive investment of over 11 trillion yuan in the next three years.
Entering the fourth quarter, many places are seizing the golden period of project construction, accelerating the start of major projects, among which industrial projects account for "half the territory". Recently, Anhui started the fourth batch of 551 major projects with a total investment of 426.81 billion yuan and an annual plan of 42.61 billion yuan. Among them, there are 315 manufacturing projects, accounting for 57.2%; Guangxi proposed to promote the acceleration of industrial project construction, striving to complete an investment of more than 45 billion yuan in the fourth quarter; Mianyang City, Sichuan Province, launched the construction of major projects in the fourth quarter of 2024, involving a total of 179 projects with a planned total investment of 37.5 billion yuan, of which the total investment in industrial projects is 17.4 billion yuan.
Fu Yingang, deputy director of the Zhejiang Provincial Department of Economy and Information, introduced that since this year, Zhejiang has accelerated the construction of major manufacturing projects, among which 734 major manufacturing projects with an investment of more than 1 billion yuan in 2024 have been arranged. The next step will continue to expand industrial effective investment with projects as the king, improve the full-chain project management mechanism, strengthen element protection and services, accelerate the supply of land for signed projects, start construction of land-supplied projects as soon as possible, and speed up the construction progress of projects under construction.
While industrial projects are accelerating the start of construction, under the promotion of a package of policies for equipment renewal and consumer goods replacement, industrial enterprises are accelerating technological transformation and equipment renewal, continuously activating internal momentum through effective investment.
Walking into the workshop of Zhejiang Weixing Intelligent Instrument Co., Ltd., two different production lines for the same product are running in parallel. On one side, about 50 workers are busy on the traditional production line, while on the other side, there are only 5 workers on the intelligent production line, with automated production throughout the key processes such as material feeding, production, testing, and assembly.
"5G empowers intelligent manufacturing, driving the renewal of a batch of industrial equipment such as automatic material feeding machines and automatic manipulators." Wu Zhengxiang, the vice president of the company, introduced that under the demonstration and traction of this model line, the company is accelerating the construction of "5G+Future Factory", with the first phase project investment exceeding ten million yuan. Technological transformation, upgrading, and equipment renewal have greatly improved product consistency, increased the output value per capita on the production line by 5.5 times, and shortened the delivery cycle by 20%. The second phase project is currently being planned.
Data shows that from January to August this year, the national investment in equipment, tools, and instruments increased by 16.8% year-on-year, with a growth rate 13.4 percentage points higher than the total investment, contributing 64.2% to the total investment growth. Large-scale equipment renewal policies have promoted industrial transformation, accelerated the pace of transformation and upgrading of traditional industries, and manufacturing technology transformation investment has continued to achieve double-digit growth.
At the same time, ministries and localities have also formulated specific support policies, investigated project lists, and provided "real money" from aspects such as funds, finance, and taxation to guide and support enterprise equipment renewal and technological transformation.
Reporters have learned that the Ministry of Industry and Information Technology has established a national industrial field equipment renewal and technological transformation project library, and in conjunction with the National Development and Reform Commission, it has increased support for large-scale equipment renewal in the industrial field through ultra-long-term special treasury bonds, and increased the inclination towards small and medium-sized enterprises and private enterprises. In conjunction with the People's Bank of China, it has implemented re-lending for scientific and technological innovation and technological transformation, and the first batch of recommended projects in the industrial field has been pushed to 21 financial institutions through the national industry-finance cooperation platform, and some enterprises have completed docking with financial institutions, with agreed loans of about 150 billion yuan.
Localities have adopted various methods such as investment subsidies, loan interest subsidies, equity investment, financial leasing, and guarantee subsidies to support equipment renewal in the industrial field according to local conditions. Preliminary statistics show that 21 provinces including Guangdong, Sichuan, and Shandong have introduced equipment renewal subsidy policies, and 18 provinces including Jiangsu, Hubei, and Hunan have introduced interest subsidy policies.Fan Meng, director of the Industrial Investment Research Office at the Planning Research Institute of the CCID Consulting, said that through research, it was found that companies are enthusiastic about equipment renewal, but some companies are unable to carry out equipment renewal due to poor profits and insufficient funds. A series of "real money" support has expanded the coverage of enterprises, improved their equipment renewal capabilities, and activated their investment potential.
In the fourth quarter, relevant departments will introduce a batch of specific measures to promote consumption and expand domestic demand. Wang Jiangping, deputy minister of the Ministry of Industry and Information Technology, said that the focus will be on investment-driven projects, implementing technological transformation and equipment renewal projects. Accelerate the approval and funding of ultra-long-term special treasury bond support projects, and speed up the disbursement of the 150 billion yuan technological transformation reloan that has been signed. Recently, recommend a batch of new special reloan projects to banks, and plan ahead for the pilot cities for new technological transformation in the manufacturing industry in 2025. Organize the construction of reserved projects in the industrial field to start construction as soon as possible, and form more physical work volume as soon as possible.
Experts believe that a large number of project constructions are accelerating the formation of physical work volume, which will continue to expand effective investment and promote the continuous increase in the proportion of advanced production capacity.
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