State Administration of Taxation: "Two new" policies drive significant growth in corporate procurement and household consumption
2025-08-15 08:01:43
On August 15, the latest data on value-added tax invoices released by the State Administration of Taxation showed that, driven by large-scale equipment renewal and consumer goods trade-in policies, from April 2024 to July 2025, the amount of machinery and equipment purchased by enterprises increased by 7.3% year-on-year, and the sales of daily household appliances and audio-visual equipment increased by 44.5% and 22.8% year-on-year respectively; the sales of new energy vehicles increased by 81.7% year-on-year. The "two new" policies have been implemented for more than a year and gradually formed a benign interaction of "policy-driven - demand release - industrial upgrading".
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