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CCTV News (News Broadcast): The State Administration of Taxation released data today (August 18) showing that in July, as the effects of various macroeconomic policies were gradually released, the sales revenue of market entities steadily recovered, and many fields showed positive highlights.

Data from value-added tax invoices of the State Administration of Taxation showed that in July, my country's industrial economy recovered steadily, with sales revenue of industrial enterprises growing by 6% year-on-year, 1.7 percentage points higher than the growth rate in the second quarter.

New quality productivity accelerated its growth, with sales revenue of high-tech industries increasing by 13.3% year-on-year. Sales revenue of strategic emerging industries such as electronic and communication equipment manufacturing, railway, ship and aviation equipment manufacturing, and new energy vehicle manufacturing all maintained double-digit growth.

The effects of mechanical equipment renewal and old-for-new consumer goods are evident. The amount of machinery and equipment purchased by enterprises nationwide increased by 8.5% year-on-year, 2.8 percentage points higher than the second quarter. Among them, the amount of machinery and equipment purchased in key areas such as industry and transportation increased by 7.2% and 14.8% year-on-year respectively, a significant increase from the second quarter. The policy of old-for-new consumer goods has guided the orderly release of residents' consumption potential. Retail sales of household appliances and electronic products and furniture increased by 8.5% and 11.7% year-on-year respectively, both of which have increased compared with the second quarter.

From the perspective of business entities, as of the end of July this year, the number of newly established tax-related business entities nationwide increased by 7.3% year-on-year, among which the number of entities that received invoices and reported income increased by 8.5% year-on-year, accounting for 67.4% of all newly established entities, an increase of 0.7 percentage points year-on-year.

(Shangguan News)