China's industrial sales revenue rises 7.3% in first eight months of 2024
China's State Taxation Administration reported on September 21 that industrial sales revenue grew 7.3% year-on-year from January to August 2024, driven by equipment manufacturing (up 10.1%) and high-tech industries (up 15.7%). AI-related sectors surged, with integrated circuits revenue up 67.7% and smart vehicle equipment up 38.8%. Digital economy core industry revenue rose 9%, and inter-provincial trade accounted for 41.4% of total sales.
IllustrationEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
China's Industrial Sales Revenue Up 7.3% in First Eight Months, Tax Data Shows
According to the latest invoice data released by China's State Taxation Administration on September 21, the country's industrial sales revenue grew steadily in the first eight months of this year, with new quality productive forces accelerating cultivation. From January to August, industrial sales revenue increased by 7.3% year-on-year, with mining, manufacturing, and utilities sectors rising 8.3%, 7.5%, and 5% respectively. Equipment manufacturing, acting as a 'ballast stone', saw revenue jump 10.1%, with computer communication equipment manufacturing up 18.8%, electrical machinery and equipment manufacturing up 14%, and instrumentation manufacturing up 14.1%.
Read sourceChina's Industrial Sales Revenue Rose 7.3% in First Eight Months of 2024
According to the latest invoice data released by China's State Taxation Administration and reported by state broadcaster CCTV, the country's industrial sales revenue grew steadily in the first eight months of 2024. From January to August, total industrial sales revenue increased by 7.3% year-on-year, with mining, manufacturing, and utilities (electricity, heat, gas, and water production and supply) rising 8.3%, 7.5%, and 5% respectively. Equipment manufacturing, described as a 'ballast stone' for the economy, saw revenue jump 10.1%, driven by strong performances in computer and communication equipment manufacturing (up 18.8%), electrical machinery and equipment manufacturing (up 14%), and instrumentation manufacturing (up 14.1%). The data indicates that new quality productive forces are being cultivated rapidly, with high-tech industries contributing significantly to the growth.
China's Industrial Sales Revenue Up 7.3% in First Eight Months, Tax Data Shows
According to the latest invoice data released by China's State Taxation Administration on September 21, the country's industrial sales revenue grew steadily in the first eight months of 2024, with new quality productive forces accelerating cultivation. From January to August, industrial sales revenue increased by 7.3% year-on-year, with mining, manufacturing, and utilities growing 8.3%, 7.5%, and 5% respectively. Equipment manufacturing, acting as a stabilizer, saw revenue rise 10.1%, led by computer and communication equipment (18.8%), electrical machinery (14%), and instrumentation (14.1%). High-tech industry sales revenue grew 15.7%, with high-tech manufacturing up 18.9%. Notably, AI-related sectors surged: integrated circuits revenue jumped 67.7% and smart vehicle equipment rose 38.8%. The digital economy core industry revenue increased 9%, with digital product manufacturing and services up 16.6% and 11.1% respectively. Enterprises' digital technology procurement rose 8.6%, with manufacturing sector digital transformation spending up 17.1%. The data was reported by CCTV News.
Read sourceShow 2 older updatesHide older updates
China's Industrial Sales Revenue Rises 7.3% in First Eight Months, Tax Data Shows
According to the latest invoice data released by China's State Taxation Administration on September 21, the country's industrial sales revenue grew steadily in the first eight months of 2024, with new quality productive forces accelerating. The data shows that from January to August, industrial sales revenue increased by 7.3% year-on-year, with mining, manufacturing, and electricity, heat, gas, and water production and supply sectors rising by 8.3%, 7.5%, and 5% respectively. Equipment manufacturing, acting as a stabilizer, saw revenue growth of 10.1%, with computer and communication equipment manufacturing, electrical machinery and equipment manufacturing, and instrumentation manufacturing posting increases of 18.8%, 14%, and 14.1% respectively. The report, sourced from CCTV News and published by financial data provider Jin10, highlights the steady progress of the industrial economy and the rapid development of high-tech industries.
Read sourceChina's Enterprise Sales Revenue Shows Four Bright Spots in First Eight Months, Tax Data Reveals
According to invoice data from China's State Taxation Administration, national enterprise sales revenue from January to August displayed four positive trends. First, the industrial economy progressed steadily, with industrial sales revenue growing 7.3% year-on-year, led by mining (8.3%), manufacturing (7.5%), and utilities (5%). Equipment manufacturing, especially computer communication equipment (18.8%), electrical machinery (14%), and instrumentation (14.1%), grew strongly. Second, new quality productive forces accelerated, with high-tech industry sales revenue up 15.7%, including high-tech manufacturing at 18.9% and AI-related integrated circuits surging 67.7% and smart vehicle equipment rising 38.8%. Third, digital-real integration deepened, with the digital economy core industry's sales revenue up 9%, digital product manufacturing up 16.6%, and digital product services up 11.1%. Enterprise procurement of digital technology increased 8.6%, with manufacturing sector digital transformation spending up 17.1%. Fourth, the unified national market advanced, with inter-provincial trade sales accounting for 41.4% of total sales, up 0.5 percentage points year-on-year. Transportation and logistics inter-provincial sales grew 8.2%, outpacing the industry average by 1.2 percentage points. A State Taxation Administration official stated that multiple invoice data sets reflect China's economic momentum shifting toward innovation and structural improvement, and the tax department will continue implementing supportive tax policies to enhance development momentum and market vitality.
Read source