Premier calls for more efforts to upgrade economy

Premier Li Qiang called on Thursday for solid steps to promote large-scale equipment upgrades and the trade-in of consumer goods, in order to facilitate transformation and upgrading of the nation's economy and enhance the quality of life for both urban and rural residents.

Li made the remarks at a video conference held by the State Council, China's Cabinet, on promoting large-scale equipment upgrades and the trade-in of consumer goods.

He said that driving a new round of large-scale equipment upgrades and the trade-in of consumer goods is of strategic importance for the nation's overall development.

It is beneficial for both short-term and long-term development, helps stabilize economic growth while promoting economic transformation, and benefits enterprises while contributing to improving people's livelihoods, he added.

Li urged all regions and government departments to align their thinking and actions with the decisions and arrangements made by the Communist Party of China Central Committee, adhere to a market-oriented approach with the government playing a guiding role, and encourage the elimination of outdated equipment in favor of advanced technology.

He emphasized the importance of respecting the will of enterprises and consumers, strengthening policy support, and implementing the strategy in differentiated categories based on priority.