Jiangsu has successively introduced new financial policies to support large-scale equipment upgrades for enterprises.

In order to support large-scale equipment renewal for enterprises, Jiangsu has recently introduced a series of new financial incentives, fully leveraging the financial services function of "financing + material integration", accelerating the transformation and upgrading of traditional industries at lower costs and higher efficiency, further stimulating market vitality and innovation. The provincial Department of Finance stated that promoting large-scale equipment renewal has become an urgent need for high-quality economic development. Jiangsu, as a major economic province, has a strong manufacturing base and a complete range of industries, but some enterprises have aging equipment and outdated technology, which has hindered further improvement of industrial competitiveness. With rapid iterations of emerging technologies such as artificial intelligence, big data, and the Internet of Things, traditional industries urgently need equipment renewal and technological transformation to improve production efficiency and reduce energy consumption. At the same time, the recent new policies are also a continuation and deepening of the previous "transportation loans," "equipment pledges," and "urban development loans" policies, supporting more industries to achieve quality improvement, cost reduction, and efficiency enhancement through equipment upgrades, providing momentum for stable economic growth.