China's industrial enterprises and broader national economy have demonstrated steady growth and robust resilience during the first five months of the year. Driven by innovation, high-quality development and a green transition, the country's economic trajectory continues its upward momentum, according to official tax and statistical data.
Invoice data released by the State Taxation Administration show that the sales revenue of national industrial enterprises grew by 6.8 percent year-on-year from January to May, signaling a robust and steady economic recovery across the manufacturing landscape.
"Tax big data reflect a steady growth in the sales revenue of industrial enterprises, with new growth drivers such as equipment manufacturing and high-tech industries playing a prominent leading role," said Li Ping, deputy director of the tax science and research institute under the STA. "The continuous and deepening transition toward green and low-carbon development demonstrates the solidifying foundation and improving quality of China's industrial economy, which further consolidates the country's upward economic momentum."
Breaking down the tax data, equipment manufacturing continued to serve as the "ballast stone" of the industrial sector. During the five-month period, the sector's sales revenue grew by 8 percent year-on-year, accounting for 46.8 percent of the total manufacturing industry. Highlighting the steady push toward high-end manufacturing, the sales revenue of computer and communication equipment, instruments and meters, and special equipment rose by 15.6 percent, 10.5 percent, and 8.8 percent, respectively.
