On March 7th, the State Council issued an Action Plan for Promoting Large scale Equipment Renewal and Consumer Goods Exchange (hereinafter referred to as the Action Plan). The Action Plan has made comprehensive arrangements for promoting large-scale equipment updates and exchanging old for new consumer goods, with a focus on four major parts: equipment updates, exchanging old for new consumer goods, recycling, and improving standards. The Action Plan proposes that by 2027, the investment scale of equipment in industry, agriculture, construction, transportation, education, cultural tourism, medical and other fields will go up by more than 25% compared to 2023. As the energy efficiency of major energy consuming equipment in key sectors should basically reach the energy-saving level, the proportion of production capacity with environmental performance reaching A-level is expected to be markedly enlarged. At the same time, the popularization rate of digital research and design tools and the CNC rate of key processes in industrial enterprises above designated size should exceed 90% and 75%, respectively. Also, compared with 2023, we will see a growing trend in the following areas, the recycling volume of scrapped cars about twice, the trading volume of used cars up 45%, the recycling volume of waste household appliances up 30%, and the enlarged proportion of recycled materials in resource supply.