Authorities in East China's Zhejiang province have issued an action plan to raise the digital transformation rate of industrial enterprises above designated size to over 90 percent by the end of 2024, covering nearly all large enterprises in terms of digital transformation.

According to the plan, Zhejiang's industrial equipment investment in the industrial sector should grow by over 30 percent compared to 2023, with all industrial enterprises above designated size achieving full digital transformation by the end of 2027.

For traditional large-scale industries such as textiles, chemical fibers, and metal products, Zhejiang will accelerate the replacement of inefficient equipment and outdated equipment that has exceeded service life.

For rapidly developing industries like new energy vehicles with fast-paced technological iterations, Zhejiang will encourage companies to adapt to new requirements for technological innovation and industrial development by upgrading to a new set of high-tech, high-efficiency, and highly reliable advanced equipment.