China's inter-provincial trade sales up 1.3% in first 8 months, advanced manufacturing flows accelerate
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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.
Source report
According to data from the State Taxation Administration's invoice system, the first eight months of the year witnessed steady growth in inter-provincial trade across China. Key regions demonstrated strong outward sales radiation effects, while transportation, logistics, and information services continued to grow steadily. The inter-provincial flow of advanced manufacturing also accelerated.
Steady Growth in Inter-Provincial Trade with Notable Regional Radiation Effects
- In the first eight months, inter-provincial trade sales revenue increased by 1.3% year-on-year, accounting for 41.4% of total sales revenue — an increase of 0.5 percentage points compared to the same period last year.
- Among China's 31 provinces, 20 provinces recorded positive year-on-year growth in inter-provincial sales, representing a growth coverage rate of 64.5%.
- Key regions saw faster growth in sales outside their own areas. The Beijing-Tianjin-Hebei region and the Yangtze River Delta region recorded year-on-year growth of 1.6% and 1.8% respectively in out-of-region sales, both exceeding the national average growth rate for inter-provincial trade.
Steady Growth in Cross-Provincial Transport, Logistics, and Information Services
- Invoice data shows that in the first eight months, inter-provincial sales revenue in the transportation, warehousing, and postal services sector grew by 8.2% year-on-year.
- Notably, multimodal transport inter-provincial sales revenue increased by 9.5% year-on-year, indicating a gradual enhancement in the transport capacity of new business models and formats.
- Cross-provincial information exchange accelerated. Data shows that inter-provincial sales revenue in the information services sector grew by 41.1% year-on-year during the same period.
Steady Growth in Cross-Provincial Remote Sales and Accelerated Flow of Advanced Manufacturing
Cross-Provincial Remote Sales
- Invoice data shows that in the first eight months, the number of tax-related business entities engaged in cross-provincial remote sales increased by 10.7% year-on-year.
- These entities accounted for 56.5% of all entities with sales activities, an increase of 1.9 percentage points compared to the same period last year.
Accelerated Flow of Advanced Manufacturing
- Invoice data indicates that advanced manufacturing sectors actively participated in the domestic economic cycle during the first eight months:
- Integrated circuits: inter-provincial sales revenue grew by 59.3% year-on-year
- Lithium-ion batteries: inter-provincial sales revenue grew by 59.7% year-on-year
- Intelligent vehicle-mounted equipment: inter-provincial sales revenue grew by 39% year-on-year
- Electronic specialty materials: inter-provincial sales revenue grew by 74.3% year-on-year
Source
第一财经Eastern
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China’s inter-provincial trade sales rise 1.3% in first eight months of 2024