Latest Invoice Data from State Taxation Administration Reveals Steady Economic Growth and Continuous Enhancement in China During the First Three Quarters
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Author:小编   

On October 23, data from the State Taxation Administration's invoices indicated that China's economic performance remained stable and demonstrated a trend of continuous improvement throughout the first three quarters of the year. Notably, the industrial sector, emerging growth sectors, inter-provincial trade, and equipment investment all showed significant enhancements in the third quarter compared to the second. Among these, the development of emerging growth sectors, particularly those related to artificial intelligence, was especially robust. During the first three quarters, sales revenue in core digital economy industries and intellectual property (patent)-intensive industries increased by 9.1% and 13.1% year-on-year, respectively. In the third quarter, these growth rates accelerated to 9.9% and 14.4%, marking increases of 2.9 and 1.8 percentage points from the second quarter. Specifically, the integrated circuit and semiconductor device manufacturing industries, which are closely tied to artificial intelligence, experienced year-on-year growth rates of 77.9% and 35.9% in the third quarter, representing increases of 6.4 and 9.3 percentage points from the second quarter, respectively.