Taxation big data shows that my country's economy is stable and making progress in July
2024-08-20
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Xinhua News Agency, Beijing, August 19 (Reporter Han Jianuo) The reporter learned from the State Administration of Taxation on the 19th that the latest released value-added tax invoice data showed that my country's economic operation was generally stable in July, and showed a positive trend of stability and progress, and high-quality development was solidly promoted.
Tax data show that in July, sales revenue in the eastern and western regions both increased by 5% year-on-year. The eastern provinces such as Guangdong, Shanghai and Zhejiang grew faster, up 5.8%, 5.9% and 7.8% year-on-year respectively; Inner Mongolia and Chongqing also achieved faster growth, up 7.3% and 6.7% year-on-year respectively.
From the perspective of industry, in July, the sales revenue of industrial enterprises increased by 6% year-on-year, 1.7 percentage points higher than the second quarter. Among them, driven by the rebound in commodity prices, the mining industry increased by 9.7% year-on-year, turning from negative to positive compared with the second quarter; the manufacturing industry increased by 5.7% year-on-year, among which the raw material processing industry and equipment manufacturing industry increased by 6.8% and 6% year-on-year respectively; the sales revenue of the power production and supply industry increased by 5.6% year-on-year, effectively ensuring the peak summer season.
It is worth noting that various regions have accelerated the development of new quality productive forces and the quality of economic development has been continuously improved.
In July, sales revenue of high-tech industries increased by 13.3% year-on-year. Strategic emerging industries such as electronic and communication equipment manufacturing, railway, ship and aviation equipment manufacturing, and new energy vehicle manufacturing grew rapidly, up 12.1%, 14.6% and 26.7% year-on-year respectively. Sales revenue of intellectual property (patent) intensive industries and core industries of the digital economy maintained rapid growth, up 9.6% and 9.5% year-on-year respectively.
The policy of exchanging old for new consumer goods has guided the orderly release of residents' consumption potential. Data from the unified invoice for second-hand car and motor vehicle sales showed that in July, second-hand car sales increased by 20.9% year-on-year, and new energy vehicle sales increased by 38.5% year-on-year, continuing the rapid growth trend. Retail sales of household appliances and electronic products and furniture increased by 8.5% and 11.7% year-on-year respectively, both of which were higher than the second quarter.
The number of newly-established tax-related business entities has grown steadily. Data shows that as of the end of July, the number of newly-established tax-related business entities has increased by 7.3% year-on-year this year, of which the number of entities that have received invoices and reported income has increased by 8.5% year-on-year, accounting for 67.4% of all newly-established entities, an increase of 0.7 percentage points from the same period last year. The number of newly-established foreign-invested tax-related business entities increased by 4.2% year-on-year, of which the number of newly-established entities invested by countries participating in the construction of the Belt and Road Initiative increased by 27.7% year-on-year.
Huang Lixin, director of the Taxation Science Research Institute of the State Administration of Taxation, said that VAT invoice data is an important tax data reflecting the operation of my country's economy. A series of tax data in July showed that my country's economy is stable and making progress. In the next step, we must focus on the implementation of the reform deployment and do a good job in all aspects with the strong impetus of further deepening reform.
