Tax incentives bolster manufacturing growing

The manufacturing industry in China has been advancing steadily, driven by supporting policies such as tax incentives in 2024.

Its corporate sales revenue grew 2.2 percentage points, higher than the industry national average. Sales revenue from equipment manufacturing, digital product manufacturing, and high-tech manufacturing increased by 6.2%, 8.3%, and 9% year-on-year, respectively.

Specifically, computer manufacturing, communication and radar equipment manufacturing, and intelligent equipment manufacturing among the advanced manufacturing, gained more revenues by 14.4%, 19%, and 10.1% against the previous year respectively, which reflects the manufacturing industry advancing towards higher-end and more intelligent.