Big-ticket investments in new equipment by China's centrally administered State-owned enterprises will create fresh growth points for both domestic private firms and foreign companies alike, said experts and business leaders, stressing that all participants share entwined interests and great economic cooperation potential.Aiming to stay at the forefront of the latest technological and industrial advances, the State-owned Assets Supervision and Administration Commission of the State Council announced last week that central SOEs will invest over 3 trillion yuan ($413.55 billion) into large-scale equipment upgrades over the next five years.Central SOEs will implement a series of intelligent transformation, digital transition and network connectivity-themed projects to promote the integration of new technologies such as artificial intelligence with all aspects of the manufacturing process, SASAC said.The Ministry of Commerce emphasized in mid-July that it will continue to promote high-standard opening-up and improve the business environment, ensuring equal treatment for both domestic and foreign companies. This includes supporting large-scale equipment renewals, trade-in programs for consumer goods and relevant government procurement activities, said Ling Ji, vice-minister of commerce.Liu Shaowei, head of the bureau of financial oversight and operational evaluation under SASAC, said that central SOEs will accelerate the replacement and upgrades of outdated production equipment having low efficiency and obsolete technologies.The government will support central SOEs to develop and produce new types of equipment in various fields, such as industrial machinery, agriculture and healthcare, said Liu.Since the beginning of the year, China has been promoting new industrialization, focusing on energy conservation and carbon reduction, digital transformation and intelligent upgrades, SASAC said. (ICE PECHINO)

Fonte notizia: China Daily