Your equipment will be reborn with you. However, they will revert to low level – so you will still be able to equip and use them again.
If you don’t like that, you need to un-equip them before rebirth and keep them in warehouse.

Caps, Hats & Helmets: Will revert to a Destiny Cap (Level 15), a Badger Hat (Level 22), an Iron Helmet (Level 15), or a Guard Coronet (Level 15).

Armor, Coats & Robes: Will revert to a Tao Robe (Level 15), Ox hide Armor (Level 15), Leather Armor (Level 15) or a Deerskin Coat (Level 15), depending on your character class before rebirth.

Bracelets, Rings & Bracers: Will revert to a Peach Bracelet (Level 15), a Porcelain Ring (Level 13) or a Copper Ring (Level 10) depending on your character class before rebirth.

Bags, Earrings & Necklaces: Will revert to a Flower Bag (Level 17), Heart Necklace (Level 17) and Green Earring (level 15)

Boots: Will revert to Ox Hide Boots (Level 10).

Shields: Will revert to a Soft Shield (Level 40) and automatically be stored in your inventory.

Bows: Will be reverted to a Mulberry Bow (Level 20).

Weapons: Will be reverted to the appropriate weapon of lower power (level 15).