The latest VAT invoice data released by the State Administration of Taxation shows that from October 2024 to February 2025, the sales revenue of enterprises nationwide increased by 1.1 percentage points compared to the third quarter of 2024. The invoice data shows the following five highlights of the economic operation: First, the manufacturing industry is growing steadily, and the supporting role of equipment manufacturing is strong. Second, emerging industries are growing well, and new quality productivity is developing at an accelerated pace. Third, equipment updates are progressing steadily, and the trade-in of consumer goods continues to improve. Fourth, ecological and environmental protection services are growing rapidly, and the clean energy industry is developing rapidly. Fifth, trade between provinces continues to flow smoothly, and the construction of a unified large market is progressing in an orderly manner.

The latest VAT invoice data released by the State Administration of Taxation shows that from October 2024 to February 2025, the sales revenue of enterprises nationwide increased by 1.1 percentage points compared to the third quarter of 2024. The invoice data shows the following five highlights of the economic operation: First, the manufacturing industry is growing steadily, and the supporting role of equipment manufacturing is strong. Second, emerging industries are growing well, and new quality productivity is developing at an accelerated pace. Third, equipment updates are progressing steadily, and the trade-in of consumer goods continues to improve. Fourth, ecological and environmental protection services are growing rapidly, and the clean energy industry is developing rapidly. Fifth, trade between provinces continues to flow smoothly, and the construction of a unified large market is progressing in an orderly manner.