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China's industrial sales revenue up 7.3% in first 8 months, high-tech sector rises 15.7%
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According to the latest invoice data released by China's State Taxation Administration, 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 growing by 8.3%, 7.5%, and 5% respectively. The equipment manufacturing sector, acting as a 'ballast stone', saw revenue rise 10.1%, led by computer and communication equipment manufacturing (18.8%), electrical machinery and equipment manufacturing (14%), and instrumentation manufacturing (14.1%). High-tech industry sales revenue grew 15.7%, with high-tech manufacturing up 18.9%. Notably, revenue from integrated circuits and smart in-vehicle equipment, both related to artificial intelligence, surged 67.7% and 38.8% respectively. The data, sourced from state broadcaster CCTV News, indicates robust industrial momentum and structural upgrading.
Source report
According to the latest invoice data released by the State Taxation Administration, China's national industrial sales revenue grew steadily in the first eight months of this year, with accelerated cultivation of new quality productive forces. Notably, sales revenue in the equipment manufacturing and high-tech industries saw significant increases.
Key Data Highlights
- Overall industrial performance: From January to August, industrial sales revenue increased by 7.3% year-on-year, reflecting steady progress.
- Sector breakdown:
- Mining: up 8.3%
- Manufacturing: up 7.5%
- Electricity, heat, gas, and water production and supply: up 5%
All sectors maintained relatively rapid growth.
Equipment Manufacturing: A Stabilizing Force
Equipment manufacturing continued to play a "ballast stone" role, with sales revenue rising 10.1% year-on-year. Notable sub-sectors include:
- Computer, communication, and other electronic equipment manufacturing: +18.8%
- Electrical machinery and equipment manufacturing: +14%
- Instrumentation manufacturing: +14.1%
High-Tech Industry: Accelerating New Quality Productive Forces
Sales revenue in the high-tech sector grew by 15.7% year-on-year during the same period. Within this:
- High-tech manufacturing: +18.9%
- AI-related industries saw particularly strong growth:
- Integrated circuits: +67.7%
- Smart vehicle equipment: +38.8%
(Source: CCTV News)
Source
界面新闻Eastern
Part of this Story
China’s industrial sales revenue rises 7.3% in Jan-Aug, AI chip sector surges 67.7%