China's State Taxation Administration said tax data indicate continued
industrial sales growth and accelerating development of new-type productive
forces in 1H. STA director Hu Jinglin said sales from three sectors closely
linked to new productive forces—equipment manufacturing; information
transmission, software and IT services; and scientific and technical
services—made up 23.5% of total enterprise sales revenue in 1H, up 2.2
percentage points YoY and showing a rapid multi-year rise. The STA added that
including other emerging sectors and upgraded traditional industries would raise
that share further.
