Looking at economic highlights through value-added tax invoices
2024-08-28
On August 27th, the State Administration of Taxation released value-added tax invoice data showing that from January to July, the sales revenue of China's manufacturing industry increased by 5.3% year-on-year, with 28 out of 31 major manufacturing industries achieving positive growth; The amount of R&D and technical services purchased by enterprises increased by 12.3% year-on-year; National inter provincial sales increased by 3.8% year-on-year. According to the latest data, China's manufacturing industry continues to improve, new quality productivity is accelerating, and the construction of a unified national market is steadily advancing Huang Lixin, Director of the Tax Science Research Institute of the State Administration of Taxation, said. The high-end, intelligent, and green development of the manufacturing industry has been solidly promoted. Value added tax invoice data shows that from January to July, the sales revenue of the high-end equipment manufacturing industry increased by 8.3% year-on-year, accounting for 16.5% of the total sales revenue of the manufacturing industry, an increase of 0.5 percentage points compared to the same period last year. The sales revenue of the smart device manufacturing industry increased by 12.4% year-on-year. The sales revenue of high energy consuming manufacturing accounted for 30.7% of the manufacturing industry, a decrease of 0.8 percentage points compared to the same period last year, and energy conservation and consumption reduction work was orderly promoted; The amount of environmental governance services purchased by manufacturing enterprises increased by 6.2% year-on-year, with a growth rate 2.4 percentage points faster than in 2023, and the investment in pollution control continues to increase. The data shows that the high-end, intelligent, and green development of China's manufacturing industry has been solidly promoted, playing an important supporting role in the economic recovery and improvement Huang Lixin said. Shijiazhuang Anruike Gas Machinery Co., Ltd., located in the Equipment Manufacturing Industrial Park of Shijiazhuang City, Hebei Province, is a national level specialized and innovative "little giant" enterprise engaged in hydrogen energy equipment and special gas, natural gas and other storage and transportation equipment business. The tax department has guided us to fully enjoy tax and fee preferential policies, and it is expected that we will be able to enjoy an additional deduction of about 6 million yuan for research and development expenses this year. We are more confident in the path of green development The relevant person in charge of the enterprise, Luo Jianghong, said. We will continue to optimize our service measures, expand our service channels, focus on the issues that taxpayers and payers are most concerned about, and create a favorable business environment Yue Guangjian, Secretary of the Party Committee and Director of the Shijiazhuang Taxation Bureau of the State Administration of Taxation, said. The level of technological innovation in enterprises continues to improve, and strategic emerging industries are full of momentum. "With the support of a series of tax and fee policies, the company enjoyed an additional deduction of 52.26 million yuan for research and development expenses last year, and an additional deduction of 34.98 million yuan in the first half of this year. The substantial tax and fee incentives provide us with solid financial support to uphold technological innovation," said Liu Renfang, the person in charge of Jiangxi Ruisheng Electronics Co., Ltd. To support enterprises in strengthening research and development innovation, local tax departments rely on tax big data to accurately screen the list of eligible enterprises. Through the service mode of "precise push+personalized counseling", they analyze the policy enjoyment of enterprises, study policy effects, and track the entire process of policy implementation. The development of new quality productivity is accelerating, and the level of technological innovation in enterprises is constantly improving. From January to July, the procurement amount of the national science and technology service industry and information service industry increased by 17.3% and 12.8% respectively year-on-year, significantly higher than the overall procurement level of enterprises. Advanced and high-quality production factors are accelerating their aggregation into innovative industries. The procurement amount of machinery and equipment in the technology service industry and information service industry increased by 19.9% and 16.8% respectively year-on-year, which is not only significantly higher than the growth rate of enterprise procurement of machinery and equipment, but also higher than the overall procurement level of these two industries, reflecting the strong upgrading and updating of equipment in the innovation driven industry. Strategic emerging industries are developing well. From January to July, the sales revenue of the equipment manufacturing industry and high-tech manufacturing industry increased by 5.9% and 8.4% year-on-year, respectively, which were 0.6 and 3.1 percentage points faster than the overall growth rate of the manufacturing industry. The integration of digital economy and real economy is accelerating. From January to July, the sales revenue of core industries in the digital economy increased by 8.9% year-on-year, with the digital product manufacturing industry and digital technology application industry related to the integration of data and reality growing by 9.3% and 12.3% respectively. Li Xuhong, Vice President of Beijing National Institute of Accounting, believes that in recent years, China has continuously improved its tax incentives to support technological innovation, implemented a series of policy incentives for innovative entities such as high-tech enterprises, technology-based small and medium-sized enterprises, and research and development institutions. While encouraging enterprises to increase their R&D investment, it fully guides innovation resources to gather in enterprises, actively promotes industrial upgrading and transformation, and cultivates new development momentum. Inter provincial trade is accelerating and promoting the construction of a unified national market. Maoge Food Development Co., Ltd., located in Yubei District, Chongqing, achieved an annual output value of over 90 million yuan last year. With the continuous expansion of the company's business in Sichuan, the demand for cross regional taxation is increasing day by day. In recent years, the scope of the 'Chuan Yu Tong Ban' project has gradually expanded, and tax related business such as declaration and invoicing has become increasingly convenient, "said Zhou Houjuan, President of Chongqing Maoge Industrial Group. Continuously promoting the efficient and smooth operation of the domestic market and expanding its scale is one of the main goals of building a unified national market. By using value-added tax invoice data, we can observe the degree of inter provincial trade connections. From January to July, inter provincial sales in China increased by 3.8% year-on-year; The proportion of inter provincial trade sales to total sales was 40.6%, an increase of 0.6 percentage points compared to the same period last year. The growth rate of inter provincial trade sales in 22 provinces has achieved positive growth. The new mode of transportation is accelerating its development. From January to July, the sales revenue of the transportation and logistics industry increased by 9.7% year-on-year. Among them, the carrying capacity of new modes and business models of transportation is gradually increasing, and the sales revenue of multimodal transport, transportation agency, and postal express delivery industry increased by 29.9% and 12% respectively year-on-year. Shen Xinguo, Director of the Tax Service Department of the State Administration of Taxation, stated that the tax department will continue to promote the smooth flow of production factors and efficient allocation of various resources. With the effective play of tax functions, it will better serve the construction of a unified national market, smooth the domestic circulation, and promote high-quality development. (New Society)
Edit：NingChangRun Responsible editor：LiaoXin
Source：People's Daily
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