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China's Industrial Sales Revenue Up 7.3% in First Eight Months
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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.
Source report
September 21 (Gelonghui) — According to China Central Television (CCTV), the latest invoice data released by the State Taxation Administration shows that from January to August this year, the country's industrial sales revenue grew steadily, with accelerated cultivation of new quality productive forces and notable growth in sales revenue from equipment manufacturing and high-tech industries.
Key Data Highlights
- Overall industrial performance: Industrial sales revenue increased by 7.3% year-on-year during the January–August period, reflecting steady progress in the industrial economy.
- Sector breakdown:
- Mining: up 8.3% year-on-year
- Manufacturing: up 7.5% year-on-year
- Electricity, heat, gas, and water production and supply: up 5% year-on-year
All three sectors maintained relatively rapid growth.
- Equipment manufacturing: Continued to serve as a "ballast stone" for the economy, with sales revenue rising 10.1% year-on-year. Notable sub-sectors include:
- Computer, communication, and other electronic equipment manufacturing: up 18.8%
- Electrical machinery and equipment manufacturing: up 14%
- Instrument and meter manufacturing: up 14.1%
Source
格隆汇Eastern
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