As a barometer for analyzing economic operations, the "Tax Electricity Index" jointly compiled by the tax and power departments is gradually becoming well-known to the public. The latest data released from Zhejiang, Shandong, Jiangxi, Sichuan and other regions shows that the "tax electricity index" continued to rise in the first quarter, and the growth rate of high-tech manufacturing and strategic emerging industries data was faster, indicating a trend of local economy stabilizing and improving, and new driving forces accelerating and growing. The "Tax Electricity Index" is an indicator calculated through a model that combines enterprise tax sales invoice data and electricity consumption data. A tax electricity index greater than 100 indicates economic activity, with higher values indicating higher levels of activity. "This is a comprehensive indicator that can reflect economic activity. Invoice data reflects the current sales situation of the enterprise, and at the same time, some goods have not been sold after production, so electricity consumption reflects the current production and operation situation of the enterprise. Sales generate invoicing data; electricity consumption generates production data. When the two data are put together, they can better reflect whether the current production and operation is normal." said Li Xuhong, Vice Dean of the National Accounting Institute in Beijing. The data shows that the tax and electricity index of Zhejiang Province in the first quarter of this year was 109.0, an increase of 2.3 percentage points from the full year of 2023. Since March 2023, it has remained in a prosperous range; The tax and electricity prosperity index of Jiangxi Province in the first quarter of this year was 106.4, an increase of 1.1 benchmark points compared to the previous two months; The tax and electricity index of Sichuan Province in the first quarter of this year was 106.1, 6.1 points higher than the boom bust line. The total tax and electricity index of Shandong Province in the first quarter was 107.1, an increase of 0.5 points from the entire year of 2023. Since February 2023, it has been above the boom bust line for 14 consecutive months. From the subdivision of the "tax and electricity index", it can be seen that the development of high-tech manufacturing in many regions has accelerated, and advantageous industries such as strategic emerging industries have a strong supporting role. This indicates that new driving forces are accelerating their growth and the formation of new quality productivity is accelerating. In the first quarter of this year, the sales revenue of strategic emerging industries and advanced manufacturing industries in Jiangxi Province increased by 7.9% and 6.6% year-on-year, respectively, driving a total industry growth of 3 percentage points; The tax and electricity index of high-tech manufacturing industries such as specialized equipment and instruments in Zhejiang reached 112.5 and 109.1, respectively, an increase of 1.9 and 6.1 percentage points compared to the full year of 2023. In the first quarter, the invoicing sales revenue of high-tech industries in Shandong Province increased by 7.7% year-on-year, among which the high-tech service industry increased by 11.1% year-on-year. Especially under the guidance of technology and innovation, the invoicing sales revenue of technology promotion services and technology intermediary services grew rapidly, with year-on-year growth of 44.2% and 58% respectively. Meanwhile, from the perspective of industrial invoicing sales revenue in the province, the manufacturing of new energy vehicles increased by 29.6% year-on-year, the manufacturing of photovoltaic equipment and components increased by 49.7% year-on-year, and solar power generation increased by 38.4% year-on-year. In the workshop of Weifang Peterlai Electric Appliance Co., Ltd., workers are rushing to produce new energy power components needed by companies such as Weichai and Cummins in the United States. "The sales revenue in the first quarter of this year increased by 4.5% year-on-year. We will continue to focus on the development direction of 'specialization, refinement, uniqueness, and novelty', and further increase our technology."
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