The sales revenue in China's manufacturing sector continued to grow in the first quarter of this year, with high-tech industries seeing robust sales growth, according to data released by the State Taxation Administration on Wednesday.
According to value-added tax invoice data, in the first quarter, sales revenue in the manufacturing sector increased by 4.8 percent year on year, making up 29.1 percent of total national sales -- an increase of 0.8 percentage points from the same period last year, providing important support for sustained economic growth.
Notably, the equipment manufacturing sector saw sales revenue grow by 9.7 percent year on year, maintaining a strong growth momentum.
In Dalian City, northeast China's Liaoning Province, a rail transit equipment manufacturer that produces braking resistors, ventilation fans, and cooling fans for locomotives has seen increasing orders in recent days.
This year, the company has successfully implemented several patents, with products used in major domestic trains like the Fuxing bullet train and exported to New Zealand, Kazakhstan, and Nigeria.
"In the first quarter of this year, our rail transit equipment orders reached 193 million yuan (about 26.30 million U.S. dollars), marking a 9.3 percent increase compared to the previous year. At present, production orders for urban rail vehicle products are scheduled till 2026," said He Yuening, financial director of Dalian Dingli Rail Transit Equipment Co., LTD.
Equipment manufacturing is the mainstay industry in Dalian, where 21,267 companies in the industry have benefited from intelligent service mechanism and targeted preferential policies put forward by local tax authorities together with federation of industry and commerce and other departments
"In the first quarter of this year, the invoiced value-added tax for equipment manufacturing enterprises in Dalian reached 64.06 billion yuan (about 8.73 billion U.S. dollars). Key industry companies are projected to achieve profits of 2.02 billion yuan (about 275.23 million U.S. dollars), a year-on-year increase of 203 percent. The equipment manufacturing industry continues to grow in scale, showcasing strong momentum and vibrant growth," said Li Yan, a tax officer in Dalian.
According to the State Taxation Administration, in the first quarter, sales revenue in China's high-tech industries increased by 13.4 percent year on year, continuing its rapid growth trend. Sales revenue in the digital product manufacturing and digital technology application sectors grew by 12 percent and 11.6 percent year on year, respectively, highlighting the ongoing integration of digital and traditional industries.
Moreover, advancements and applications in artificial intelligence have driven sales revenue in scientific research and technical services and information technology services to rise by 19.6 percent and 11.4 percent year on year, respectively.
China's manufacturing sector reports 4.8 pct sales revenue growth in Q1
