China’s inter-provincial trade sales rise 1.3% in first eight months, tax data shows
China's State Taxation Administration released invoice data on September 23 showing inter-provincial trade sales revenue increased 1.3% year-on-year in the first eight months of 2024, accounting for 41.4% of total sales. Twenty of China's 31 provinces reported positive growth. The Beijing-Tianjin-Hebei and Yangtze River Delta regions exceeded the national average. Advanced manufacturing sectors saw sharp increases in cross-provincial sales, with electronic specialty materials up 74.3% and integrated circuits up 59.3%.
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China tax data shows steady progress in building national unified market in first 8 months
According to invoice data released by China's State Taxation Administration on September 23, the construction of a national unified market progressed steadily in the first eight months of 2024. Cross-provincial trade sales increased 1.3% year-on-year, accounting for 41.4% of total sales, up 0.5 percentage points from the same period last year. Twenty of China's 31 provinces recorded positive growth in cross-provincial sales. The Beijing-Tianjin-Hebei region and the Yangtze River Delta saw external sales growth of 1.6% and 1.8% respectively, both exceeding the national average. Transportation, warehousing, and postal services saw cross-provincial sales rise 8.2%, with multimodal transport up 9.5%. Information services cross-provincial sales surged 41.1%. The number of tax-registered business entities engaged in cross-provincial sales grew 10.7%, representing 56.5% of all sales entities. Advanced manufacturing sectors including integrated circuits, lithium-ion batteries, intelligent vehicle components, and electronic specialty materials recorded cross-provincial sales growth of 59.3%, 59.7%, 39%, and 74.3% respectively.
Read sourceChina's inter-provincial integrated circuit sales surge nearly 60% in first eight months
According to tax invoice data released by China's State Taxation Administration on September 23, inter-provincial trade in China grew steadily in the first eight months of 2024. Total inter-provincial trade sales increased 1.3% year-on-year, accounting for 41.4% of all sales, up 0.5 percentage points from the same period last year. Twenty of China's 31 provinces reported positive growth in inter-provincial sales. The Beijing-Tianjin-Hebei region and the Yangtze River Delta saw external sales grow 1.6% and 1.8% respectively, outpacing the national average. Transport and logistics inter-provincial sales rose 8.2%, with multimodal transport up 9.5%. Information services inter-provincial sales surged 41.1%. In advanced manufacturing, inter-provincial sales of integrated circuits jumped 59.3%, lithium-ion batteries 59.7%, smart vehicle components 39%, and electronic specialty materials 74.3%, indicating accelerated domestic circulation of high-tech goods.
Read sourceChina's Unified National Market Advances as Inter-Provincial Trade Sales Grow Steadily
According to the latest invoice data from China's State Taxation Administration, inter-provincial trade sales in China grew steadily in the first eight months of the year, indicating progress in building a unified national market. From January to August, inter-provincial trade sales increased by 1.3% year-on-year, accounting for 41.4% of total sales, up 0.5 percentage points from the same period last year. Twenty out of 31 provinces reported positive growth in inter-provincial sales. Key regions showed strong external sales, with the Beijing-Tianjin-Hebei region and the Yangtze River Delta seeing external sales growth of 1.6% and 1.8% respectively, both above the national average. Cross-provincial transportation and logistics costs are declining, with the transportation, storage, and postal sector's inter-provincial sales up 8.2%, and multimodal transport up 9.5%. Information services inter-provincial sales surged 41.1%. The number of tax-registered entities engaged in cross-provincial sales rose 10.7%, accounting for 56.5% of all sales entities. Advanced manufacturing sectors are increasingly participating in the domestic economic cycle, with inter-provincial sales of integrated circuits, lithium-ion batteries, smart vehicle equipment, and electronic specialty materials growing by 59.3%, 59.7%, 39%, and 74.3% respectively.
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China's Unified National Market Progresses as Provincial Trade Sales Rise 1.3% in First Eight Months
According to the State Taxation Administration's invoice data reported by People's Financial News on September 23, China's unified national market construction has been steadily advancing in the first eight months of the year. Provincial trade sales increased by 1.3% year-on-year, accounting for 41.4% of total sales, up 0.5 percentage points from the same period last year. Among China's 31 provinces, 20 saw positive year-on-year growth in inter-provincial sales, a growth rate of 64.5%. Key economic regions showed strong external sales radiation effects, with the Beijing-Tianjin-Hebei region and the Yangtze River Delta region recording external sales growth of 1.6% and 1.8% respectively, both exceeding the national average. The data also indicates steady growth in transportation, logistics, and information services, as well as accelerated inter-provincial flows in advanced manufacturing sectors.
Read sourceChina's Unified National Market Construction Advances Steadily in First Eight Months of 2024
According to tax invoice data from China's State Taxation Administration, the construction of a unified national market progressed steadily in the first eight months of 2024. National inter-provincial trade sales increased by 1.3% year-on-year, accounting for 41.4% of total sales, up 0.5 percentage points from the same period last year. Among 31 provinces, 20 saw positive growth in inter-provincial sales, a 64.5% positive rate. Key regions like Beijing-Tianjin-Hebei and the Yangtze River Delta saw external sales grow 1.6% and 1.8% respectively, outpacing the national average. Transportation, warehousing, and postal services inter-provincial sales rose 8.2%, with multimodal transport up 9.5%. Information services inter-provincial sales surged 41.1%, indicating improved cross-regional data connectivity. Cross-provincial remote sales tax-registered entities increased 10.7%, now representing 56.5% of all sales entities. Advanced manufacturing sectors such as integrated circuits, lithium-ion batteries, smart vehicle components, and electronic specialty materials saw inter-provincial sales growth of 59.3%, 59.7%, 39%, and 74.3% respectively, reflecting accelerated domestic circulation.
Read sourceChina's inter-provincial trade sales rise 1.3% in first 8 months, tax data shows
According to invoice data from China's State Taxation Administration, national inter-provincial trade sales grew 1.3% year-on-year in the first eight months of the year, accounting for 41.4% of total sales, up 0.5 percentage points from the same period last year. Among 31 provinces, 20 saw positive growth in inter-provincial sales, a 64.5% positive rate. Key economic regions showed strong external sales: the Beijing-Tianjin-Hebei region and the Yangtze River Delta saw external sales growth of 1.6% and 1.8% respectively, both above the national average. Transport, warehousing, and postal services inter-provincial sales rose 8.2%, with multimodal transport up 9.5%. Information services inter-provincial sales surged 41.1%. Cross-provincial remote sales by tax-registered business entities increased 10.7% in number, accounting for 56.5% of all sales entities. Advanced manufacturing sectors showed rapid inter-provincial flow: integrated circuits, lithium-ion batteries, intelligent vehicle equipment, and electronic specialty materials saw inter-provincial sales growth of 59.3%, 59.7%, 39%, and 74.3% respectively.
China's State Taxation Administration: National Unified Market Advances, Inter-Provincial Trade Sales Grow in First 8 Months
According to invoice data from China's State Taxation Administration, the construction of a national unified market has progressed steadily in the first eight months of the year. Inter-provincial trade sales increased by 1.3% year-on-year, accounting for 41.4% of total sales, up 0.5 percentage points from the same period last year. Twenty of China's 31 provinces reported positive growth in inter-provincial sales. Key economic regions showed strong external sales, with the Beijing-Tianjin-Hebei region and the Yangtze River Delta seeing external sales growth of 1.6% and 1.8% respectively, both above the national average. Transport, storage, and postal services saw inter-provincial sales rise 8.2%, while multimodal transport grew 9.5%. Information services inter-provincial sales surged 41.1%. Cross-provincial remote sales tax-registered entities increased 10.7%, accounting for 56.5% of all sales entities. Advanced manufacturing sectors, including integrated circuits (up 59.3%), lithium-ion batteries (up 59.7%), intelligent vehicle components (up 39%), and electronic specialty materials (up 74.3%), showed accelerated inter-provincial flows, indicating deeper domestic economic integration.
Read sourceChina's unified national market advances as inter-provincial trade sales grow 1.3% in first 8 months
According to invoice data from China's State Taxation Administration reported by People's Financial News on September 23, the construction of a unified national market has progressed steadily in the first eight months of the year. Inter-provincial trade sales nationwide increased by 1.3% year-on-year, accounting for 41.4% of total sales, a rise of 0.5 percentage points from the same period last year. Among China's 31 provinces, 20 recorded positive year-on-year growth in inter-provincial sales, a coverage rate of 64.5%. Key economic regions showed strong external sales radiation effects: the Beijing-Tianjin-Hebei region and the Yangtze River Delta region saw external sales growth of 1.6% and 1.8% respectively, both exceeding the national average for inter-provincial trade sales. The data also indicated steady growth in transportation, logistics, and information services, as well as accelerated inter-provincial flows in advanced manufacturing.
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