China's economy has maintained sound momentum since the start of this year, according to tax big data. It can be summed up in four prominent features: consolidation of the real economy, innovation-driven growth, high-quality and efficiency improvement, and green development.

Industry, particularly manufacturing, which underpins the real economy, has steadily increased its share in China’s economy. In the first six months, industrial enterprises raised their sales revenue by 7.1% year-on-year, with manufacturing’s sales revenue up by 7.3%. That of industrial enterprises accounted for 36% of corporate sales revenue nationwide, 2.2 percentage points higher than in the same period last year. Total equipment investment by industrial enterprises rose by 9.8% year-on-year, demonstrating a stronger and more solid foundation for China’s economy.

New quality productive forces are gaining strong momentum, accelerating innovation drivers. In the first half of this year, equipment manufacturing, information transmission, software and information technology services, and scientific and technological services, closely linked to new quality productive forces, accounted for 23.5 percent of corporate sales revenue across the country, up 2.2 percentage points from the previous year, showing a rapid upward trend year by year. Given that some emerging industries and some traditional sectors were included in the upgrade, the industries related to new quality productive forces would expand its share even bigger.

Key value indicators of business performance have improved. In addition to tax revenue, businesses saw their corporate profits and other indicators turn solid. In the first six months, 1 million key tax-source enterprises claimed their profit growth by 12.8% year-on-year, indicating sustainable improvement in corporate profitability. Driven by the robust performance of key industries, the total declared wages and salaries for individual income tax purposes grew by 5% year-on-year.

Green development in China is picking up its pace. Ecological protection and environmental management industry generated more sales revenue by 6.9% year-on-year. Clean energy power generation, mostly of wind, solar, hydro, and nuclear, earned more by 17.1%. Both accounted for 38.8% of total power generation sales revenue, up 3.8% percentage points from a year earlier. Sales revenue of new energy vehicles and lithium battery manufacturing jumped by 13.1% and 38.9%, respectively, signaling sustainable progress in the application of new energy.

All these data highlight the high-quality development of China’s economy since the beginning of 2026, the starting year of the 15th Five-Year Plan period. As the economic foundation is consolidated for sustained and stable growth, it is believed that China's economy is ensured to achieve more in effective qualitative improvement and reasonable quantitative growth.