The value-added tax invoice data released by the State Administration of Taxation on January 9th shows that with the continuous implementation of a package of incremental and stock policies since September 2024, the sales revenue of enterprises nationwide has significantly improved in the fourth quarter of 2024. Specifically, the development of manufacturing industry is accelerating, and equipment manufacturing plays a strong supporting role. In the fourth quarter of 2024, the sales revenue of the manufacturing industry increased by 3.8% year-on-year, which is 2.4 percentage points higher than the growth rate in the third quarter of 2024. Among them, the sales revenue of the equipment manufacturing industry increased by 8.3% year-on-year, which is 4 percentage points higher than the growth rate in the third quarter of 2024. Especially in the fourth quarter, the sales revenue of the railway, shipbuilding, aerospace equipment manufacturing industry, computer communication equipment manufacturing industry, and general equipment manufacturing industry grew rapidly, with year-on-year increases of 16.5%, 10.9%, and 8%, respectively. Emerging industries continue to grow rapidly, and the development of new quality productivity is accelerating. In the fourth quarter of 2024, the sales revenue of high-tech industries increased by 10.6% year-on-year, continuing the rapid double-digit growth. Among them, the sales revenue of high-tech service industry and high-tech manufacturing industry increased by 11.1% and 10% respectively year-on-year. In the fourth quarter of 2024, the sales revenue of core industries in the digital economy increased by 5.5% year-on-year. Among them, the sales revenue of digital product manufacturing and digital technology application industries increased by 6.9% and 8.3% respectively year-on-year. Ecological and environmental protection services are steadily growing, and the clean energy industry is developing rapidly. In the fourth quarter of 2024, the sales revenue of green technology promotion services such as new energy, energy conservation, and environmental protection increased by 21.2%, 21.8%, and 16.3% year-on-year, respectively. The clean energy industry maintained rapid growth, with sales revenue from solar energy, biomass energy, and wind power increasing by 17.9%, 12.7%, and 5% year-on-year, respectively. The demand for green travel continues to grow, driving a year-on-year increase of 28.1% in sales revenue for the new energy vehicle manufacturing industry. Equipment updates are steadily accelerating, and consumer goods continue to improve through trade ins. In the fourth quarter of 2024, driven by the policy of large-scale equipment updates, the amount of machinery and equipment purchased by enterprises nationwide increased by 7.5% year-on-year, which is 2.2 percentage points higher than the growth rate in the third quarter of 2024. Driven by factors such as national encouragement, local government support, and corporate concessions, retail sales of household audiovisual equipment such as televisions and daily household appliances such as refrigerators increased by 38.1% and 75.4% year-on-year, respectively; Furniture retail and sanitary ware retail related to home decoration increased by 39.4% and 26.3% respectively year-on-year, both significantly faster than the growth rate in the third quarter of 2024. Infrastructure investment has rebounded, and "dual" projects are accelerating their implementation. In the fourth quarter of 2024, the growth rate of sales revenue in the civil engineering and construction industry, which reflects infrastructure investment, has significantly increased compared to the third quarter. Especially with the implementation of a package of debt policies, sales revenue in December increased by 7% year-on-year, effectively promoting the construction of key infrastructure projects such as "dual". Among them, the sales revenue of water conservancy and waterway engineering construction industry increased by 17.7% year-on-year, an increase of 7.6 percentage points compared to the third quarter of 2024. The sales revenue of construction machinery manufacturing increased by 6.3% year-on-year, reflecting the acceleration of construction investment. Inter provincial trade continues to be smooth, and the construction of a unified large market is progressing in an orderly manner. In the fourth quarter of 2024, the national inter provincial trade sales reflecting inter provincial trade increased by 3.3% year-on-year, further improving compared to the third quarter of 2024. The sales revenue of the transportation and logistics industry increased by 8.4% year-on-year, among which the sales revenue of ocean freight transportation and freight transportation agency related to foreign trade increased by 31.4% and 31.3% respectively. The relevant person in charge of the State Administration of Taxation introduced that in the fourth quarter of 2024, China's economic operation presented a series of new trends and changes. The series of policies effectively boosted the confidence of business entities, enhanced the development momentum of enterprises, and promoted the economic stabilization and improvement. (New Society)