Sales revenue of enterprises across China surged in the fourth quarter of 2024, fueled by the implementation of favorable policies, according to data released by the State Taxation Administration (STA) on Thursday.
In the manufacturing sector, sales revenue grew by 3.8 percent year on year in the fourth quarter. Notably, the equipment manufacturing sector saw a significant increase, with the sales revenue rising by 8.3 percent year on year.
Emerging industries continued their rapid expansion in the last quarter of 2024, with the sales revenue in high-tech industries maintaining a double-digit growth to increase by 10.6 percent year on year.
Within this sector, high-tech services and high-tech manufacturing saw year-on-year growth of 11.1 percent and 10 percent respectively.
In the fourth quarter, eco-environmental services showed steady growth, with the sales revenue from green technology promotion services, including new energy, energy conservation, and environmental protection, growing by 21.2 percent, 21.8 percent, and 16.3 percent year on year respectively.
Meanwhile, equipment upgrades gained momentum thanks to the implementation of relevant policies.
In the fourth quarter, the value of mechanical equipment purchased by enterprises nationwide increased by 7.5 percent year on year, a 2.2 percentage point rise compared with the third quarter.
Along with the promotion of implementing major national strategies and building security capacity in key areas, the sales revenue of the civil engineering and construction industry, an indicator of infrastructure investment, grew significantly in the fourth quarter.
In December, the sales revenue of the civil engineering and construction sector registered a year-on-year growth of seven percent.
The development of a unified national market progressed smoothly in the fourth quarter, with sales revenue from inter-provincial trade growing by 3.3 percent year on year.
Sales revenue of enterprises across China surges in Q4, fueled by favorable policies
