The latest data released by the State Administration of Taxation shows that since the implementation of the package of incremental policies at the end of September 2024, market confidence has been effectively boosted and the momentum of economic development has continued to increase.
From October 2024 to February 2025, the national corporate sales revenue increased by 1.1 percentage points compared with the third quarter of 2024.
VAT invoice data shows that from October 2024 to February 2025, manufacturing sales revenue increased by 3.6% year-on-year. Among them, the sales revenue of the equipment manufacturing industry increased by 8.7% year-on-year, especially the sales revenue of the railway, ship, aerospace equipment manufacturing industry and computer communication equipment manufacturing industry grew rapidly, with a year-on-year increase of 9.3% and 11% respectively.
At the same time, emerging industries have good growth. Sales revenue from high-tech industries increased by 10.6% year-on-year, and sales revenue from core industries of the digital economy increased by 5.6% year-on-year.
Driven by large-scale equipment updates and consumer goods trade-in policies, from October 2024 to February 2025, the amount of machinery and equipment purchased by enterprises nationwide increased by 7.1% year-on-year; the retail sales of household audio-visual equipment such as TVs and refrigerators, etc., daily home appliances such as refrigerators increased by 23.3% and 56.1% year-on-year respectively.
In addition, ecological and environmental protection services are growing rapidly, and the clean energy industry is developing rapidly. Sales revenue of green technology promotion services such as new energy, energy conservation, and environmental protection increased by 29.3%, 26.8% and 12.1% year-on-year respectively, and sales revenue of clean energy industries such as solar energy, biomass energy, and wind power increased by 26.7%, 10.9% and 6.1% year-on-year respectively.
At the same time, the construction of a unified national market has been carried out in an orderly manner, with inter-provincial sales accounting for nearly 40% of the national enterprise sales revenue, an increase of 0.4 percentage points year-on-year; sales revenue of the transportation and logistics industry increased by 8.3% year-on-year.
