Big tax data reflects economic vitality
To read the economic situation in the first quarter well, it depends on the year-on-year growth in the context of the epidemic in the first quarter of last year, as well as the growth in the same period when there was no epidemic in the first quarter of 2019.
Tax data shows that the economic operation in the first quarter showed a steady and steady strengthening, and a steady and positive trend.
On April 23, the State Administration of Taxation released 10 sets of tax data.
Data show that in the first quarter, my country's economic operations showed a steady strengthening and steady improvement. The vitality of market entities was effectively stimulated, innovation and development accelerated, and China's economy showed resilience and vitality.
Economic sustained and stable recovery
From the perspective of comprehensive tax data, the national economy started well in the first quarter, with various indicators increasing at a relatively high rate, and the economy continued to recover steadily.
Among them, the production and operation of enterprises are improving steadily, which has accumulated strength for economic development.
Data show that in the first quarter of this year, the national corporate sales revenue increased by 50.5% year-on-year, an increase of 27.2% over the same period in 2019, and an average increase of 12.8% over the two years.
"Benefiting from the implementation of preferential tax and fee policies on the enterprise side and the intelligent and digital transformation of collection and management services, enterprises and other market entities continue to develop steadily and upwardly, ensuring the real economy." Research on fiscal and taxation policies and applications of Beijing National Accounting Institute Li Xuhong, director of the institute, said.
The manufacturing industry is an important foundation of the real economy. In recent years, a series of preferential tax policies to support the development of the manufacturing industry have been effective and have effectively promoted the development of the manufacturing industry.
The data shows that in the first quarter of this year, the national manufacturing sales revenue increased by 49.7% year-on-year, an increase of 20.2% over the same period in 2019.
"The rapid development of the manufacturing industry has strongly stimulated the acceleration of the recovery of the industry." According to Zhao Lianwei, deputy director of the Revenue Planning and Accounting Department of the State Administration of Taxation, in the first quarter of this year, the sales revenue of industrial enterprises nationwide increased by 46.7% year-on-year and 19.6% year-on-year. An average increase of 9.3% over the two years.
In addition, the sales revenue of high-tech industries has increased significantly, and innovation and development have accelerated.
In the first quarter of this year, the sales revenue of my country's high-tech industry increased by 53% year-on-year and 41.6% year-on-year. The two-year average growth rate was 19%, faster than the national average.
"In the first quarter, the increase rate of various indicators was high, mainly due to two reasons." Zhao Lianwei said. On the one hand, in the first quarter of this year, China's overall plan for epidemic prevention and control and economic and social development continued to show results, and a series of policy effects continued to be released. Demand picking up, coupled with the promotion of local Chinese New Year during the Spring Festival, the employment of employees was significantly better than in previous years, which effectively promoted the acceleration of enterprise production and the improvement of efficiency; on the other hand, affected by the epidemic in the first quarter of last year, the base of various indicators was low. , Which brought a high increase in various indicators in the first quarter of this year.
"So, to read the first quarter of my country's economic situation well, it depends on the year-on-year growth compared to the first quarter of last year in the context of the epidemic, as well as the growth compared with the same period in the first quarter of 2019 without the epidemic. Calculate on this basis. The two-year average growth rate can more objectively and comprehensively reflect the economic operation situation." Zhao Lianwei said.
Effectively stimulate market vitality
The main body of the market is the power carrier of the economy, and the main body of the market is to protect the productive forces of the society.
Zhao Lianwei said that in recent years, a series of policy dividends such as tax reduction and fee reduction and the reform of decentralization, regulation and service have been continuously released, and the number of new tax-related market entities has continued to increase.
Statistics show that in the first quarter of this year, there were 2.792 million new tax-related market entities nationwide, an increase of 86% year-on-year, an increase of 34.9% year-on-year, and an average growth rate of 16.1% over the two years, effectively stimulating market vitality.
As an important force to promote economic and social development, the private economy is also showing a good momentum of development.
In the first quarter of this year, there were 2.758 million new tax-related market entities, accounting for 98.8% of the total number of households, an increase of 0.3 percentage points from the same period last year.
Driven by a series of relief policies to help enterprises, in the first quarter of this year, the sales revenue of the private economy increased by 54.5% year-on-year, and the average growth rate was 14.7% in two years.
The number of new market players is increasing, and the vitality of the original market players is also increasing, and the benefits are getting better and better.
In the first quarter of this year, the sales revenue of civil engineering construction industry increased by 44.8% year-on-year, and the two-year average growth rate was 15.8%.
The sales income of agricultural machinery products has increased by an average of 40% in two years, and agricultural mechanization has been steadily advancing.
"The role of taxation in stimulating the vitality of micro entities and promoting macroeconomic growth has become more prominent." He Daixin, head of the Finance Research Office of the Institute of Financial Strategy of the Chinese Academy of Social Sciences, said that the proactive fiscal policy oriented to ensure enterprises and employment has responded to the epidemic last year. During the period, the new tax and fee reduction scale will exceed 2.6 trillion yuan in 2020, and the sense of acquisition of micro entities, especially enterprises, will continue to increase, which will drive employment and residents' income and provide strong support for consumption.
Data shows that the consumer market continues to recover.
In the first quarter of this year, the national retail sales revenue increased by 52.9% year-on-year and 28.7% year-on-year, and the two-year average growth rate was 13.4%.
"With the implementation of policies to promote consumption and expand domestic demand, residents' consumption demand has expanded and consumer confidence has increased." According to Li Xuhong's analysis, consumption upgrades have begun to appear. Sales revenues of jewellery, watches, health care and medical equipment have increased by 75.4%, 88.6% and 73.2 respectively year-on-year. %.
New business formats and models such as online education, Internet diagnosis and treatment, and telecommuting have also become new driving forces for activating consumption potential.
In the first quarter of this year, the sales revenue of digital cultural services and residential Internet services increased by 60.3% and 65.4% respectively year-on-year. They continued to maintain rapid growth on the high base of last year, and new business formats were booming.
Accelerate innovation and development
Tax data reflects that the innovation and development of enterprises are accelerating, and the ability of technological innovation is continuously enhanced.
"Investment in science and technology continues to increase." Zhao Lianwei said, among them, the amount of scientific research equipment such as photoelectric instruments increased by 62.3% year-on-year, and an average increase of 17.1% in two years.
The transformation of scientific and technological innovation achievements has accelerated. The sales revenue of professional technical services, R&D and design services, and scientific and technological achievements transformation services have increased rapidly, with an average increase of 19%, 22.3% and 46.4% respectively in the two years.
At the same time, companies are actively transforming to green and low-carbon, increasing investment in environmental protection.
In the first quarter of this year, the development of ecological and environmental protection related industries accelerated. The sales revenue of the ecological protection industry increased by 83.4% year-on-year and 53.6% year-on-year, with an average growth rate of 23.9% over the two years.
In addition, in order to seize the opportunities of industrial digitization and digital industrialization, the amount of investment in communication equipment by enterprises has increased by more than 10% on average in two years, and the investment structure has been gradually optimized.
"The tax and fee reduction policy makes room for corporate innovation, so that corporate innovation has a more solid financial foundation, and corporate innovation and development are possible." He Daixin said.
From the perspective of foreign trade, innovation and development have also been reflected.
In the first quarter of this year, the domestic purchases of export companies across the country increased by 46.5% year-on-year and 34.5% year-on-year, with an average increase of 16% over the two years.
Among them, export companies such as electrical machinery and equipment, special equipment, general equipment manufacturing and other export companies are more willing to purchase, and the purchase amount has increased by more than 50% year-on-year.
"Mechanical and electrical and high-tech product export enterprises have increased their purchases at a rapid rate year-on-year, reflecting that technological progress in the process of building a domestic and international dual cycle may create new advantages for my country's exports." Li Xuhong said.
Tax data is generated in the process of issuing invoices and levying taxes, and naturally has the characteristics of wide coverage and high authenticity.
Zhao Lianwei said that in the next step, he will actively explore the use of big data to conduct timely and in-depth multi-level tax economic analysis, serve micro-market entities, serve economic and social development, and serve the country’s macro decision-making, so as to create new development patterns and achieve high-quality development Greater contribution. (Economic Daily-China Economic Net reporter Li Hualin)