The National Development and Reform Commission (NDRC) announced on April 30 that, in line with the central government's decision to optimize the "Two New" initiatives, it has been actively advancing equipment renewal projects supported by ultra-long special treasury bonds. Recently, the second batch of funding for 2026, totaling 91.5 billion yuan, has been allocated to support equipment upgrades across 16 sectors. These include industry, energy and power, electronic information, transportation, logistics, education, culture and tourism, healthcare, facility agriculture, grain and oil processing, aging residential elevators, workplace safety, fire and rescue services, inspection and testing, energy conservation and carbon reduction, environmental protection, and recycling. More than 6,700 projects are set to benefit, driving total investment exceeding 380 billion yuan. Additionally, support will continue for the retirement and renewal of outdated commercial trucks, new energy city buses, and aging agricultural machinery. Combined with the previously allocated 93.6 billion yuan, total funding for equipment renewal under the "Two New" policy has reached 185.1 billion yuan this year, accounting for 92% of the annual target of 200 billion yuan. Driven by the equipment renewal policy, investment in equipment and tools saw a 13.9% year-on-year increase in the first quarter, accelerating by 2.4 percentage points from the January–February period and contributing 2.3 percentage points to overall investment growth. Moving forward, the NDRC will collaborate with relevant departments to strengthen oversight, ensure closed-loop management of funds, accelerate project implementation and fund utilization, and enhance the effectiveness of the "Two New" initiatives.