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The latest VAT invoice data from the State Administration of Taxation shows that driven by multiple factors such as national encouragement and local government support, from April to July, the national enterprise equipment renewal has been steadily advancing, the growth rate of industrial enterprise equipment renewal has increased, and investment in new quality productivity has been increased; the effect of the old-for-new policy for consumer goods has become apparent, and the consumption situation of automobiles, home appliances, home kitchen and bathroom, smart products, etc. is generally good.

VAT invoice data show that from April to July, the amount of machinery and equipment purchased by enterprises nationwide increased by 6.4% year-on-year. Among them, as the action plans for equipment renewal in various fields are gradually implemented, the year-on-year growth in July was 8.5%, which was significantly faster than the previous period.

The growth rate of equipment renewal in industrial enterprises has increased.VAT invoice data show that from April to July, the amount of machinery and equipment purchased by industrial enterprises increased by 5.3% year-on-year, 6.4 percentage points higher than in March. Among them, the amount of machinery and equipment purchased by the manufacturing industry increased by 5.8% year-on-year, 6.8 percentage points higher than in March.

The information and technology industries have increased their investment in equipment renewal. Data show that from April to July, the amount of machinery and equipment purchased by the information transmission software and information technology services industry and the scientific research and technical services industry increased by 17.5% and 20.4% year-on-year, respectively, an increase of 15.8 and 11 percentage points from March, respectively, reflecting the increased investment in the field of new quality productivity.