Shenzhen offers a subsidy of 150,000 yuan for replacing old elevators with new ones

Recently, the Market Supervision and Administration Bureau of Shenzhen organized an innovative commencement ceremony in Meilin Village to celebrate the successful commencement of 100% of the old elevator renewal projects supported by all approved ultra-long-term special treasury bonds in Shenzhen in 2024. It is reported that the national ultra-long-term special treasury bond policy will continue to support the renewal and renovation of old elevators in 2025, with a subsidy of 150,000 yuan for each old elevator that is renewed.

The aging and severe wear of old elevator components make them prone to malfunctions, highlighting the risk of elevator entrapment. According to statistics, there are currently 194,000 elevators in use in Shenzhen, with 44,000 elevators (i.e., old elevators) that have been in use for more than 15 years, including approximately 18,000 old residential elevators.

The Market Supervision and Administration Bureau of Shenzhen has continuously strengthened the safety supervision of old elevators, effectively ensuring the safe use of old elevators. Since 2011, it has taken the lead in using local fiscal subsidies to promote the renovation and upgrading of old elevators, becoming one of the earliest cities in China to incorporate the renovation and upgrading of old elevators into the scope of local fiscal subsidies, with a total of over 7,000 elevators renovated and upgraded. In August 2024, Shenzhen began implementing the national ultra-long-term special treasury bond to support the renovation and upgrading of old elevators. In 2025, this policy continued, and successful elevator renovation projects will be subsidized according to the standards of 2024, that is, a subsidy of 150,000 yuan for each old elevator renovated and 50,000 yuan for each old elevator upgraded. Xiong Xingnan, the director of the property management committee of Meilin Yicun, said, "The government subsidy policy has greatly helped old communities achieve modernization and upgrading of elevators."

According to the introduction, project communities that meet the following project reserve conditions can apply for pre-declaration of 2025 treasury bond subsidies to the market supervision department in their jurisdiction: they should be elevator renovation and transformation projects that commenced or did not commence in 2025, and completed projects are not eligible for application; the investment per single elevator for implementation of renovation must be greater than 150,000 yuan, and the investment per single elevator for implementation of transformation must be greater than 50,000 yuan; residents have reached a consensus on the elevator renovation and transformation method, funding plan, post-renovation management and maintenance plan, etc.; for those raising funds for elevator renovation and transformation through multiple channels, it should be ensured that the funding pool for elevator renovation and transformation is fully closed; the declared project should commence before the end of 2025 and achieve a certain amount of physical workload.

If residents intend to apply for treasury bond subsidies for the renovation and modernization of old elevators, they can submit project pre-application materials to the local market supervision department through property service enterprises.

 This article is sourced from: People's Daily Online