Core Insights - Industrial enterprises in China experienced stable profit growth from January to October 2025, with a year-on-year increase of 1.9%, marking three consecutive months of growth since August 2025 [2] - The mining sector saw a decline of 27.8%, although the drop was 1.5 percentage points less than the previous period; manufacturing grew by 7.7%, and the electricity, heat, gas, and water production and supply sector increased by 9.5% [2] - In October, profits for industrial enterprises fell by 5.5% year-on-year due to a higher base from the previous year and rising financial costs [2] Revenue Growth - From January to October, the revenue of large-scale industrial enterprises increased by 1.8% year-on-year, contributing positively to the recovery of industrial profits [2] Equipment Manufacturing Sector - The profit of large-scale equipment manufacturing increased by 7.8% year-on-year, contributing 2.8 percentage points to the overall profit growth of large-scale industrial enterprises [3] - The equipment manufacturing sector accounted for 38.5% of total profits in large-scale industrial enterprises, an increase of 2.0 percentage points compared to the previous year [3] - Among the eight major categories in equipment manufacturing, seven reported profit growth, with significant increases in the railway, shipbuilding, aerospace, and electronics sectors, achieving growth rates of 32.0% and 12.8% respectively [3] High-Tech Manufacturing Sector - High-tech manufacturing profits rose by 8.0% year-on-year, surpassing the average growth rate of large-scale industrial enterprises by 6.1 percentage points [3] - Notable growth was observed in smart electronics manufacturing, with profits from smart unmanned aerial vehicles and smart vehicle-mounted equipment increasing by 116.1% and 114.9% respectively [3] - The semiconductor manufacturing sector also showed strong performance, with profits in integrated circuit manufacturing, electronic specialty materials, and semiconductor discrete devices growing by 89.2%, 86.0%, and 17.4% respectively [3] Traditional Industries - Traditional industries demonstrated significant improvements, with profits notably exceeding the industry average [4] - In the raw materials sector, industries such as graphite and carbon products, biochemical pesticides, and cultural information chemicals saw profit increases of 77.7%, 73.4%, and 19.1% respectively, all surpassing their respective industry averages [4] - The chemical fiber, rubber, and plastic products sectors also reported strong profit growth, with bio-based chemical fiber and recycled rubber manufacturing increasing by 61.2% and 15.4% respectively [4]

11月27日，国家统计局公布 2025年1—10月份全国规模以上工业企业利润数据 。其中，国有控股企业实现利润总额18490.2亿元，同比持平； 股份制企业实现利润总额44328.3亿元，增长1.5%；外商及港澳台投资企业实现利润总额14848.6亿元，增长3.5%； 私营企业实现利润总额 16995.6亿元，增长1.9%。 国家统计局工业司首席统计师于卫宁对数据进行详细解读： 1—10月份，在党中央坚强领导下，各地区各部门认真落实党中央、国务院决策部署，着力做强国内大循环，积极畅通国内国际双循环，带动 工业企业利润稳定增长，工业经济高质量发展稳步推进。 工业企业利润稳定增长。1—10月份，规模以上工业企业利润同比增长1.9%，自今年8月份以来累计增速连续三个月保持增长。从三大门类 看，1—10月份，采矿业下降27.8%，降幅较1—9月份收窄1.5个百分点；制造业增长7.7%；电力、热力、燃气及水生产和供应业增长9.5%。10 月份，受上年同期基数有所抬高、财务费用增长较快等因素影响，规模以上工业企业利润同比下降5.5%。 工业企业营收保持增长。1—10月份，规模以上工业企业营业收入同比增长1.8%，营业收入 ...

国家统计局发布数据，装备制造业利润较快增长。1—10月份，规模以上装备制造业利润同比增长 7.8%，拉动全部规模以上工业企业利润增长2.8个百分点；实现利润总额占全部规模以上工业企业利润 总额比重达38.5%，较上年同期提高2.0个百分点，工业企业效益结构持续优化。从行业看，1—10月 份，装备制造业的8个大类行业中有7个行业利润实现同比增长，其中，铁路船舶航空航天、电子行业利 润两位数增长，增速分别达32.0%、12.8%；电气机械、通用设备、专用设备行业利润增长较快，增速 分别为7.0%、6.2%、5.0%。 （文章来源：国家统计局） ...

Core Insights - The latest VAT invoice data indicates that China's new quality productivity is entering an acceleration phase, with robust growth in high-end manufacturing, innovative industries, and digital-physical integration [1][2] Group 1: Innovative Industries - In October, sales revenue in high-tech industries grew by 13.6% year-on-year, maintaining a double-digit growth rate, with high-tech service revenue increasing by 16.1% and high-tech manufacturing revenue by 10.1% [1] - The "Artificial Intelligence+" initiative has significantly boosted sales in integrated circuits, industrial robots, and drone manufacturing, with year-on-year growth rates of 32.5%, 41.7%, and 38.4% respectively [1] Group 2: High-end Manufacturing - Equipment manufacturing sales revenue increased by 7.3% year-on-year in October, consistently outperforming the average manufacturing sector, now accounting for nearly half of the manufacturing industry [1] - Specific sectors such as computer communication equipment, shipbuilding, and battery manufacturing saw sales revenue growth of 10.1%, 24.4%, and 27.2% respectively [1] Group 3: Digital-Physical Integration - Sales revenue in the core digital economy industries rose by 8.5% year-on-year, with enterprise spending on digital technologies increasing by 9.6%, indicating ongoing progress in digital industrialization and industrial digitization [2] - The digital products and services sector, along with digital technology applications, reported sales revenue growth of 10.2% and 13.1% respectively, while the digital content and media sector grew by 15.2% [2] Group 4: Support for New Quality Productivity - The government is increasing support for cultivating new quality productivity, with recent policies aimed at fostering innovative application scenarios and promoting technology and industry integration [3] - Local initiatives, such as those from Zhejiang Province, are providing support for emerging industries through innovative land resource management, focusing on mixed and composite land use [3] Group 5: Future Outlook - There is potential for traditional industries to undergo technological upgrades through digitalization, intelligence, and green transformation, revitalizing these sectors [3] - Recommendations include establishing special funds for new quality productivity development and creating demonstration projects to cultivate benchmark enterprises and parks [4]

Group 1 - The core viewpoint of the articles highlights the robust growth in high-end manufacturing, innovative industries, and the integration of digital and physical economies in China, driven by new productive forces [1][2] Group 2 - In high-end manufacturing, sales revenue in the equipment manufacturing sector increased by 7.3% year-on-year in October, with significant contributions from computer communication equipment (10.1%), shipbuilding (24.4%), and battery manufacturing (27.2%) [1] - The innovative industries experienced a 13.6% year-on-year growth in sales revenue, with high-tech services growing by 16.1% and high-tech manufacturing by 10.1%. Notably, sectors like integrated circuits (32.5%), industrial robots (41.7%), and drones (38.4%) showed exceptional growth [1][2] Group 3 - The digital economy's core industries saw an 8.5% year-on-year increase in sales revenue, with digital technology procurement by enterprises rising by 9.6%. The digital products and services sector grew by 10.2%, while digital technology applications increased by 13.1% [2] - The digital content and media industry experienced a significant sales revenue growth of 15.2%, indicating a strong impact from digital consumption [2] Group 4 - The tax data from October reflects the success of China's industrial structure upgrade and economic transformation, particularly driven by the "Artificial Intelligence+" initiative, which fosters growth in frontier industries and deepens the integration of digital technology with the real economy [2]

Core Viewpoint - The latest data from the National Taxation Administration indicates that China's new productive forces are continuously growing, with robust performance in high-end manufacturing, innovative industries, and the integration of digital and physical economies, contributing to sustained economic vitality [1] Group 1: High-end Manufacturing - Sales revenue in the equipment manufacturing sector increased by 7.3% year-on-year, consistently outperforming the average growth rate of the manufacturing industry this year [1] Group 2: Innovative Industries - Sales revenue in high-tech industries saw a year-on-year growth of 13.6%, reflecting strong performance in innovation-driven sectors [1] Group 3: Digital and Physical Economy Integration - The core industries of the digital economy experienced a year-on-year sales revenue increase of 8.5%, highlighting the ongoing integration of digital technologies with traditional industries [1]

中国国家税务总局24日公布的增值税发票数据显示，2025年10月，中国新质生产力持续培育壮大，高端 制造、创新产业、数实融合三大领域均呈现稳健增长态势，为经济发展持续注入新活力。 数据显示，10月份，装备制造业销售收入同比增长7.3%，今年以来持续高于制造业平均水平，占制造 业比重已近半。其中，计算机通信设备制造业、船舶及相关装置制造业、电池制造业销售收入同比分别 增长10.1%、24.4%和27.2%，展现较强发展劲头。 10月份，高技术产业销售收入同比增长13.6%，延续两位数较快增长。其中，高技术服务业销售收入同 比增长16.1%；高技术制造业销售收入同比增长10.1%，特别是随着"人工智能+"行动加快落地，集成电 路、工业机器人、无人机制造销售收入同比分别增长32.5%、41.7%和38.4%。 10月份，数字经济核心产业销售收入同比增长8.5%，全国企业采购数字技术金额同比增长9.6%，反映 数字产业化和产业数字化持续推进。其中，数字产品服务业、数字技术应用业销售收入同比分别增长 10.2%和13.1%；数字消费拉动作用明显，数字内容与媒体业销售收入同比增长15.2%。 中国人民大学财政金融学院教授 ...

Group 1 - The core viewpoint of the article highlights the robust growth in high-end manufacturing, innovative industries, and the integration of digital and physical economies in China, as indicated by the latest data from the National Taxation Administration [1] Group 2 - In high-end manufacturing, the sales revenue of the equipment manufacturing industry increased by 7.3% year-on-year in October, consistently outperforming the average level of the manufacturing sector this year [1] - Specific sectors such as computer and communication equipment manufacturing, shipbuilding and related equipment manufacturing, and battery manufacturing saw significant sales revenue growth of 10.1%, 24.4%, and 27.2% respectively [1] Group 3 - The innovative industries experienced accelerated growth, with high-tech industry sales revenue rising by 13.6% year-on-year in October [1] - High-tech service industry sales revenue grew by 16.1%, while high-tech manufacturing sales revenue increased by 10.1%, with notable growth in integrated circuits (32.5%), industrial robots (41.7%), and drone manufacturing (38.4%) [1] Group 4 - The digital economy's core industries reported an 8.5% year-on-year increase in sales revenue in October [1] - The digital product service industry and digital technology application industry saw sales revenue growth of 10.2% and 13.1% respectively, with the digital content and media industry experiencing a notable 15.2% increase [1]

Core Insights - The latest data from the National Taxation Administration indicates that in October, China's new productivity continued to grow, with high-end manufacturing, innovative industries, and the integration of digital and physical sectors all showing robust growth, injecting new vitality into economic development [1] Group 1: High-end Manufacturing - In October, the sales revenue of the equipment manufacturing industry increased by 7.3% year-on-year, consistently outperforming the average level of the manufacturing sector this year [1] - Specific sectors such as computer and communication equipment manufacturing, shipbuilding and related equipment manufacturing, and battery manufacturing saw sales revenue growth of 10.1%, 24.4%, and 27.2% respectively, demonstrating strong development momentum [1] Group 2: Innovative Industries - The sales revenue of high-tech industries grew by 13.6% year-on-year in October [1] - High-tech service industries experienced a sales revenue increase of 16.1%, while high-tech manufacturing saw a 10.1% rise [1] - Notable growth was observed in integrated circuits, industrial robots, and drone manufacturing, with sales revenue increasing by 32.5%, 41.7%, and 38.4% respectively [1] Group 3: Digital and Physical Integration - The sales revenue of core digital economy industries rose by 8.5% year-on-year in October [1] - Digital product services and digital technology application industries reported sales revenue growth of 10.2% and 13.1% respectively [1] - The digital content and media industry showed significant growth, with sales revenue increasing by 15.2% year-on-year [1]

税收数据反映10月份中国新质生产力持续发展壮大 中新社北京11月24日电 (记者 赵建华)中国国家税务总局24日公布的增值税发票数据显示，2025年10 月，中国新质生产力持续培育壮大，高端制造、创新产业、数实融合三大领域均呈现稳健增长态势，为 经济发展持续注入新活力。 数据显示，10月份，装备制造业销售收入同比增长7.3%，今年以来持续高于制造业平均水平，占制造 业比重已近半。其中，计算机通信设备制造业、船舶及相关装置制造业、电池制造业销售收入同比分别 增长10.1%、24.4%和27.2%，展现较强发展劲头。 编辑：陈俊明 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信搜索"中新经纬"或"jwview")，看更多精彩财经资讯。 10月份，高技术产业销售收入同比增长13.6%，延续两位数较快增长。其中，高技术服务业销售收入同 比增长16.1%；高技术制造业销售收入同比增长10.1%，特别是随着"人工智能+"行动加快落地，集成电 路、工业机器人、无人机制造销售收入同比分别增长32 ...