Crude futures settle lower

The West Texas Intermediate for January delivery dropped 1.55 U.S. dollars, or 2.73 percent, to settle at 55.27 dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery lost 1.64 dollars, or 2.71 percent, to settle at 58.92 dollars a barrel on the London ICE Futures Exchange.

The sales revenue of China's high-tech industries in the period from January 1 to March 25 increased by 14.6 percent year on year, the latest official data released by the State Taxation Administration showed Wednesday.

The growth in sales revenue highlighted the stronger competitiveness in the country's high-tech industries and deepened industrial upgrading driven by technological innovation.

The data also showed faster commercialization of scientific-technological research achievements. The sales revenue in the scientific-technological research and technical service sector rose 21 percent year on year during the very period, while the sales revenue of intellectual property-intensive sectors with high sci-tech content increased by 10.9 percent year on year.

"From January 1 to March 25, the sales revenue of core industries within the digital economy and the amount spent by enterprises nationwide on digital technology procurement grew by 9.5 percent and 9.7 percent year-on-year, respectively. [These figures] illustrate continued advancement of digital industrialization and industrial digitalization in China," said Huang Yun, spokesman of the State Taxation Administration, at a press conference in Beijing.

Next, Huang said, taxation authorities will further refine and implement preferential tax and fee policies designed to support sci-tech innovation. By leveraging tax-related big data and advanced information technology, Huang added, taxation authorities will keep delivering targeted policy guidance directly to enterprises to maximize policy dividends and help foster robust development of China's new quality productive forces.