On August 24, 2022, the Ministry of Industry and Information Technology (MIIT), together with the Ministry of Finance (MOF), Ministry of Commerce (MOFCOM), State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the State Administration for Market Regulation (SAMR), issued the Action Plan for Accelerating the Innovative Development of Green and Low-carbon Power Equipment (hereinafter referred to as “the Action Plan”). The policy document would be implemented by all relevant corresponding departments at a regional level.

The Action Plan was released to further support China’s carbon peak and carbon neutrality goals. The emphasis on low-carbon and green innovation for power equipment is due to the fact that carbon emissions from the power industry take up almost half of the whole country’s total emissions, making it extremely important to have detailed carbon emission reduction measures in the field.

The main contents of the Action Plan are summarized as follows: