China's NDRC allocates full 2000 billion‑yuan special bond for equipment upgrades

On July 3, the National Development and Reform Commission announced that the 2000 billion‑yuan ultra‑long‑term special bond earmarked for the “two‑new” equipment‑update program has been completely allocated. The funding supports projects in 22 sectors, including energy and power, logistics, education, elderly‑care institutions, offline retail facilities, old commercial‑grade trucks and residential elevators, covering roughly 11 000 projects.

Since January, investment in equipment and tooling rose 9.3 % year‑on‑year, accounting for 17.5 % of total investment—an increase of 2.2 percentage points over the same period last year. The NDRC will coordinate with relevant ministries to accelerate project implementation, enforce full‑cycle management and maximize the use of central funds.