Our reporters have obtained information from the State Taxation Administration indicating that in October, China’s new quality productive forces sustained their growth trajectory, achieving robust expansion across three key sectors: high-end manufacturing, innovative industries, and the integration of the digital and real economies.
Specifically, the equipment manufacturing sector witnessed a 7.3% year-on-year increase in sales revenue, with industries such as computer and communication equipment demonstrating particularly strong momentum. Meanwhile, the high-tech industry saw its sales revenue grow by 13.6% year-on-year, with sectors like integrated circuits experiencing notably rapid expansion. Furthermore, sales revenue in the core industries of the digital economy climbed by 8.5% year-on-year, with digital consumption emerging as a significant driver of growth.
Experts have highlighted that the pertinent tax data underscores the effectiveness of China’s efforts to upgrade its industrial structure and transform its economic development model. This, in turn, is providing strong momentum for high-quality economic development and revealing a solid foundation and vast potential for further transformation and upgrading.