A worker checks color-coated steel plates at the workshop of Shandong Xinmeida Technology Materials Co. Ltd. in Binzhou, east China's Shandong Province, Feb. 26, 2025. Binzhou City is a major hub for private enterprises. In recent years, the city has fostered the development of private economy through comprehensive and end-to-end services. (Photo: Xinhua)

China's National Development and Reform Commission (NDRC) and other relevant departments released a Three-Year Action Plan on Monday, pledging to implement a three-year campaign for energy-saving and carbon-reduction retrofits in nine key industries, including steel, electrolytic aluminum, and cement, starting in 2026.

The announcement said that the NDRC will work with relevant departments to increase central investment support, providing financial subsidies equivalent to 20 percent of the approved total investment for eligible projects, with priority given to projects that achieve benchmark energy efficiency levels after retrofitting.

In addition, the new policy encourages local governments to coordinate existing funding channels to provide additional support, implement tax incentives for energy-efficient special equipment and technological retrofits, and guide financial institutions to offer diversified financial products and services to meet retrofitting financing needs.


Global Times