- China’s economy showed strong momentum in Q1 2025 with progress in high-quality development
- VAT data indicated steady growth in key sectors
- High-tech industries’ sales revenue increased by 13.4 percent
- Digital product manufacturing and technology application sectors grew by 12 percent and 11.6 percent
- Clean energy sector saw solar power generation sales rise by 42.3 percent
- New energy vehicle manufacturing sales increased by 18.6 percent
- Manufacturing sector sales revenue rose by 4.8 percent, making up 29.1 percent of total sales
- Service consumption increased by 5.3 percent, with tourism-related services showing strong recovery
- Machinery and equipment purchases rose by 11 percent due to upgrade policies
- Retail sales of household appliances grew by 38.4 percent, communication devices by 27.3 percent
- Transportation and logistics sector sales revenue grew by 7.8 percent
- Proactive fiscal and monetary policies contributed to a solid economic start in Q1 2025
Source: chinatax.gov.cn
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.
