Government Work Report at the Two Sessions

      2025 is the final year of the 14th Five-Year Plan and "Made in China 2025". The two sessions of the National People's Congress are held at this important juncture and have attracted national attention.

      On March 5, the opening meeting of the 3rd Session of the 14th National People's Congress was held in the Great Hall of the People in Beijing, and Premier Li Qiang delivered a government work report to the Congress. Not only did he propose major measures such as fiscal macro-control, new urbanization construction, rectification of involutionary competition, and people's livelihood projects, but he also emphasized major tasks and goals such as stabilizing investment growth, green and low-carbon industrial transformation, and international economic and trade cooperation!

      Follow the 2025 Two Sessions Government Work Report to gain insight into the policy dividends, development trends and focus paths of the construction machinery industry!

Strengthen fiscal and financial cooperation to boost the start of infrastructure projects

Excerpts from government reports

      This year, it is planned to issue 1.3 trillion yuan of ultra-long-term special government bonds, an increase of 300 billion yuan over the previous year. It is planned to arrange 735 billion yuan of investment within the central budget to make good use of the ultra-long-term special government bonds; accelerate the implementation of a number of key projects to promote the smooth completion of major projects in the "14th Five-Year Plan"; it is planned to arrange 4.4 trillion yuan of local government special bonds, an increase of 500 billion yuan year-on-year, focusing on investment in construction, land storage and acquisition of existing commercial housing, and digestion of local government debt.

      At present, the availability of funds is still the main factor restricting the progress of project construction. The report proposes to increase the counter-cyclical adjustment of fiscal policy, especially the issuance of special treasury bonds and special bonds and the government's "debt reduction", which is expected to have a driving effect on the "new construction and investment side", further accelerate the construction progress of new projects, and then drive downstream equipment demand.

Promote industrial innovation and upgrading, and enable high-end green transformation

Excerpts from government reports

     We should promote industrial upgrading, promote the optimization and upgrading of industrial structure and technological transformation and upgrading of manufacturing industry, and cultivate a new batch of national advanced manufacturing clusters. In particular, the added value of high-tech manufacturing and equipment manufacturing increased by 8.9% and 7.7% respectively.

     The report points out that the pace of transformation and upgrading of my country's manufacturing industry is accelerating, and is showing a positive development trend. As an important part of the equipment manufacturing industry, the construction machinery industry will usher in more development opportunities. It will promote enterprises to further accelerate the transformation and upgrading of the industry to high-end, intelligent and green, and achieve high-quality development of the industry.

Promote new urbanization and open up new market space

Excerpts from government reports

     We must implement the new urbanization strategy in depth, continue to promote urban renewal and renovation of old urban communities, accelerate the establishment of an urban flood control and drainage system, as well as the construction of gas, water supply and drainage, heat, underground pipelines, etc.; develop digital and intelligent infrastructure, and improve barrier-free and elderly-friendly supporting facilities.

     The report shows that the government will continue to increase investment in urban infrastructure construction and promote the development of new urbanization. This has opened up new market space for the construction machinery industry. In particular, the demand for construction machinery will continue to grow in the fields of underground engineering, municipal transportation infrastructure, and green environmental protection.

Accelerate green and low-carbon development and lead the green upgrade of the industry

Excerpts from government reports

     We must accelerate the comprehensive green transformation of economic and social development, promote energy-saving and carbon-reduction transformation in key industries, and promote the development and utilization of new energy; coordinate industrial structure adjustments and promote green and low-carbon development.

     The report shows that the country is actively promoting green manufacturing and developing energy-saving and environmentally friendly equipment, which will prompt construction machinery companies to increase the research and development and promotion of green and low-carbon equipment and new energy technologies, such as hydrogen energy equipment and electric drive technology, and promote green product upgrades.

Deepen the One Belt One Road trade and promote the globalization of the industry

Excerpts from government reports

     We will promote the high-quality joint construction of the Belt and Road Initiative. We will coordinate the construction of major landmark projects and "small but beautiful" livelihood projects; ensure the stable and smooth operation of China-Europe trains, accelerate the construction of the new western land-sea channel; optimize the layout of international cooperation in the industrial chain and supply chain; and promote the signing of the China-ASEAN Free Trade Area 3.0 upgrade agreement.

     Under the current geo-economic and Sino-US trade barrier pattern, the policy continues to expand and encourage enterprises to invest in the "Belt and Road" and go overseas. For the construction machinery industry, it not only boosts the confidence of enterprises in overseas trade and globalization strategies, but also, with the "Belt and Road" initiative, the economic and trade cooperation between China and ASEAN, China and Europe and other countries and regions continues to deepen, injecting strong momentum into the expansion of overseas markets for Chinese construction machinery companies and bringing more growth opportunities.

Rectify involutionary competition and guide the industry's connotation-oriented development

Excerpts from government reports

     We must deepen the construction of a unified national market, accelerate the establishment and improvement of basic systems and rules, break down local protectionism and market segmentation, clear the bottlenecks that restrict economic circulation in market access and exit, factor allocation, and comprehensively rectify "involutionary" competition.

     The report once again stressed the need to "comprehensively rectify 'involutionary' competition and regulate local market behavior", and the construction machinery industry is the hardest hit area of ​​"involutionary" competition. This measure can not only restrain the unhealthy competition behavior of enterprises to a certain extent, but also prompt enterprises to return to the development track driven by innovation and guide enterprises to transform from barbaric expansion to connotation-based development.

     The 2025 Government Work Report paints a beautiful picture for the construction machinery industry, with a stable economy to promote growth, overseas dividend policies, industrial technology upgrades, and high-end green and low-carbon development. It not only demonstrates the country's strong determination to build a strong manufacturing country and ecological economy, but also points out the goals and implementation paths for the development of the industry!