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The main component of the equipment life-cycle cost is maintenance costs, accounting for about 70%. In our country, the service life of machinery and equipment is mostly between 10 and 30 years, with some lasting over 30 years; therefore, the total maintenance costs over the lifetime of such equipment amount to 4 to 5 times their original value. After China joined the WTO, under the conditions of a market economy, competition among enterprises will become increasingly fierce. It is a common consensus that equipment management in our country is actually declining. According to the theory of Mr. Seiichi Nakajima of Japan, it is the equipment that determines the quantity, quality, cost, and delivery time of products; it is also the root cause of various issues such as safety, hygiene, and the environment. Japan’s TPM is known as production maintenance involving the participation of all employees; some call it “maintenance that generates profits,” while others refer to it as “profitable maintenance.” This shows that equipment management can play a significant role in a market economy. Driven by the market economy over the past decade, there has been significant change in China’s concepts of equipment management, yet the actual work related to equipment management has not seen any fundamental changes. How to enhance a company’s competitiveness and economic efficiency should become the core issue in today’s equipment management. “\"Economics of equipment maintenance\" is a new management model proposed under the guidance of this new concept. It incorporates elements of technical economics and equipment engineering economics—examining and controlling various technical issues from an economic perspective. The objective basis for proposing this new concept is that our country has great potential in the technical and economic management of equipment ； The basic work related to technical management is still very poor ； There is a lot of talk about economic management, but little actual work done. The combination of technical management and economic management is also overemphasized while concrete methods are lacking, and so on. Specifically, how to set different reliability requirements for various types of equipment with different working characteristics, in order to ensure the effective use of limited maintenance resources ； How to understand the distribution patterns of failures in various components, so as to provide a reliable and objective basis for technical management and reduce arbitrariness ； How to determine the rationality of the remaining service life of components, in order to provide an objective basis for continuously reducing maintenance costs ； How to optimize the storage of spare parts in the inventory to reduce capital occupation ； How to measure and analyze the economic viability of equipment repair, replacement, and renovation are all topics covered in the economics of equipment maintenance. From a knowledge perspective, the economics of equipment maintenance is the science that studies the evaluation of economic benefits and the selection of optimal approaches related to equipment management and maintenance. It is the study of the economic aspects of technology, or rather, it examines from an economic perspective those technical and economic issues that are directly related to equipment management, with the ultimate goal being to improve the economic efficiency of enterprises ； Its overall goal is to promote the development of productivity, reduce production costs, and enhance the competitiveness of enterprises. To implement this new management system, it is first necessary to establish a strict statistical system for component failures, along with a rigorous accountability system for such statistics ； Perform remaining life analysis on those irreparable components as the main basis for determining how to replace them appropriately, in order to uncover potential cost savings.