Economic Daily:

Tax data is an important economic indicator that can directly reflect the state of economic operations. From the perspective of tax data for the first eight months, what are the highlights of China's high-quality development?

Rao Lixin:

Mr. Huang will answer the question.

Huang Yun:

Thank you for your question. High-quality development is our primary task in building a modern socialist country in all respects. Since the beginning of this year, all regions and departments have continued to apply the new development philosophy in full, in the right way, and in all fields of endeavor and move faster to create a new pattern of development, and focus on promoting high-quality development, achieving new results. From the perspective of tax data, this is mainly reflected in six aspects.

First, innovative industries continue to expand. Value-added tax invoice data shows that from January to August this year, the sales revenues of China's high-tech industries and intellectual property (patent)-intensive industries increased by 11.6% and 8% year on year, respectively.

Second, the proportion of high-end manufacturing has increased. Value-added tax invoice data shows that from January to August this year, the sales revenues of China's equipment manufacturing industry grew by 5.5% year on year, which was 0.9 percentage point higher than the average growth rate of the manufacturing industry. Meanwhile, the proportion of equipment manufacturing sales revenue in the total sales revenue of the entire manufacturing industry reached 44.3%, up 0.4 percentage point compared to the same period last year.

Third, the integration of digital and real economies is deepening. Value-added tax invoice data shows that from January to August this year, the sales revenues of China's core digital economy industries grew by 8.2% year on year. The amount spent by enterprises on digital technologies increased by 8.6% year on year, reflecting improvements in both digital industrialization and industrial digitization.

Fourth, market circulation is becoming more fluid. Value-added tax invoice data indicates that from January to August this year, inter-provincial trade among enterprises nationwide increased by 3% year on year, accounting for 40.7% of total sales volume. This is 0.5 percentage point higher than the same period last year. Additionally, the sales revenue of the transportation and logistics industry increased by 9.9% year on year. These figures reflect steady progress in the development of a unified national market.

Fifth, green and low-carbon development has accelerated. Value-added tax invoice data shows that during the January-August period, sales revenue for green technology services in new energy, energy conservation, and environmental protection grew 24%, 19.9% and 5.8% year on year, respectively; sales revenue for clean energy power generation increased 12.4% year on year; and sales revenue for new energy vehicle manufacturing rose 33.6% year on year.

Sixth, the level of openness continues to improve. Tax data shows that during the first eight months, enterprises received 10.1% more direct export rebates compared to the same period last year, demonstrating the resilience and rapid growth of China's exports. Meanwhile, tax refunds to overseas shoppers leaving China increased by 150% year on year, indicating a rising interest in visiting China among foreign tourists. Thank you.