China’s Economic Growth Highlights: VAT Invoice Data Shows Strong Performance in High-Tech Industries

• VAT invoice data shows China’s economy has multiple highlights
• High-tech industry sales revenue increased by 13.6 percent from January 1 to March 25
• Economic highlights include innovation momentum, green transition, and strong manufacturing
• Digital product manufacturing and technology application sales grew by 11.6 percent
• Manufacturing sales revenue increased by 5.4 percent, with equipment manufacturing up by 10.3 percent
• Government policies support technological innovation and new productivity development
• Tax incentives include increased deductions for R&D expenses and VAT exemptions for tech services
• High-tech industry sales growth outpaced national average by 11.2 percentage points
• National tech achievement transformation services sales grew by 33 percent
• Digital economy core industry sales increased by 7.8 percent

Source: stdaily.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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