On September 29, 2026, a coordinated macro policy package was implemented: the People's Bank of China adjusted and improved its monetary policy tools, increasing the sci-tech innovation and technological upgrading relending quota by 200 billion yuan (from 1.2 trillion to 1.4 trillion yuan), and unifying the support ratio from 60% to 100%, guiding banks to ramp up lending to small and medium-sized tech enterprises and support enterprises in expanding equipment renewal investment in key areas. On the same day, the PSL interest rate was cut from 1.75% to 1.5%, and the construction of the 'Six Networks'—water networks, new-type power grids, computing power networks, next-generation communication networks, urban underground pipeline networks, and logistics networks—was officially included in the pledged supplementary lending (PSL) support scope, guiding policy banks to increase financial support and help expand effective investment. At a State Council Information Office press conference, the Ministry of Science and Technology made clear: focus on frontier fields such as artificial intelligence, quantum technology, and life sciences; key areas such as integrated circuits and industrial mother machines; and strategic domains such as deep space, deep sea, and deep earth, to advance full-chain breakthroughs in key core technologies; the connotation of industrial mother machines has now gone beyond traditional machine tools and machining centers to cover additive manufacturing equipment and hybrid processing equipment, among others. Value for powder buyers: PSL support for computing power networks → accelerated construction of computing power networks → growing demand for liquid cooling in AI servers → rising procurement expectations for copper alloy powders and the like; increased relending and equipment renewal directly amplify downstream equipment procurement pace and metal powder demand expectations. The policy implementation date serves as a catalyst for market movements and orders, making this headline-level material for daily reports.