In November, China's economic operation showed four major characteristics.
Release time:
2024-12-12
On December 10, the China News Service reported from Beijing (Reporter Zhao Jianhua) that the data on value-added tax invoices released by the State Administration of Taxation on the 10th shows that driven by a series of existing and new policies, the Chinese economy continues to show signs of recovery. The economic operation in November exhibited the following characteristics:
—— Manufacturing production is steadily accelerating, with significant support from high-end manufacturing. In November, the growth rate of manufacturing sales revenue increased by 0.3 percentage points compared to October. Among them, the sales revenue of equipment manufacturing such as automobiles and electrical machinery, high-tech manufacturing such as electronic communication equipment and aerospace equipment, and digital product manufacturing such as digital media equipment and smart devices increased by 5.3%, 5.1%, and 3.8% year-on-year, respectively. In particular, the sales revenue of high-end manufacturing such as automobile manufacturing, computer communication equipment manufacturing, and railway, ship, and aviation equipment manufacturing increased by 9.3%, 7.4%, and 5.6%, respectively.
—— The modern service industry is developing rapidly, with high-tech service industries growing quickly. In November, the sales revenue of leasing and business services, information transmission, software and information technology services, and scientific research and technology services increased by 3.3%, 6.7%, and 11.3% year-on-year, respectively, all significantly higher than the overall level of national enterprises. The sales revenue of high-tech service industries grew by 8.4%.
—— Driven by the "Two New" policies, equipment investment and the replacement of old consumer goods with new ones continue to strengthen. In November, the amount of machinery and equipment purchased by enterprises nationwide increased by 4.5% year-on-year, while retail sales of household audiovisual equipment such as televisions and daily household appliances such as refrigerators increased by 28.8% and 74.4%, respectively. Retail sales of furniture and sanitary ware related to home decoration increased by 36% and 18.8%, respectively.
—— Inter-provincial trade continues to be smooth, and transportation and logistics are developing rapidly. From January to November, the growth rate of sales between provinces nationwide was 1.1 percentage points faster than the overall growth rate of national enterprise sales revenue, and the construction of a unified national market is accelerating. In November, the sales revenue of the transportation and logistics industry increased by 7.1% year-on-year. Among them, the sales revenue of ocean freight transportation and freight forwarding related to foreign trade increased by 30.6% and 26.9%, respectively; the sales revenue of the postal express industry related to online transactions increased by 8.9%.
Li Ping, deputy director of the Taxation Scientific Research Institute of the State Administration of Taxation, stated that tax data reflects from different aspects that the momentum of economic stabilization and recovery continues to strengthen, positive factors are accumulating, and a series of combined policies are effectively promoting economic recovery. (End)
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