China's tax data shows steady Q1 growth in manufacturing

 China's manufacturing sector maintained steady growth in the first quarter of 2025, according to the latest value-added tax invoice data released by the State Taxation Administration.

In the first quarter, sales revenue in high-tech manufacturing rose by 12.1 percent year on year, 3.1 percentage points higher than the same period last year, according to the data.

Sales revenue in equipment manufacturing grew by 9.7 percent, with the growth rate accelerating by 3.5 percentage points from a year earlier.

In the first quarter, sales revenue in digital product manufacturing rose by 12 percent year on year, while spending by manufacturing firms on digital technologies increased by 8.7 percent year on year.

Sales revenue in smart equipment manufacturing rose by 13.2 percent year on year, according to the data.

Sales revenue for energy-intensive manufacturing accounted for 29.2 percent of that for the total manufacturing in the first quarter, down 1.4 percentage points from the same period last year.

The data points to continued acceleration in the transformation and upgrading of China's manufacturing sector toward higher-end, smarter and greener development, highlighting steady and improved growth in the industry. ■