On October 13, the State Administration of Taxation of Qinghai Province announced that since the beginning of this year, Qinghai's industrial economic development has maintained steady growth momentum. This performance benefits from the continued utilization of Qinghai Province's resource endowments and industrial foundation, and more importantly, stems from forward-looking policy guidance and effective stimulation of business entity vitality.
Tax data reveals that from January to August, the decline in invoiced sales revenue of industrial business entities across the province narrowed by 1.7 and 2.8 percentage points compared to the first quarter and first half of the year respectively. Notably, in August, invoiced sales revenue achieved positive growth for the first time since March, with the province's industrial "tax-electricity index" reaching 107.1%, up 2 percentage points from July.
Major industries provided strong support, with sales recovery driving industrial development. Following the implementation of a series of national "anti-involution" and development-promoting measures, the year-on-year decline in the province's industrial producer prices (PPI) has moderated, and trading activity for key industrial products has increased. Specifically: the continued recovery in potassium fertilizer prices drove the chemical raw materials and chemical products manufacturing industry to achieve year-on-year growth of 3.0% and 18.6% in invoiced sales revenue for July and August respectively; rising prices of gold, lead, and zinc powder boosted the non-ferrous metal mining and beneficiation industry, as well as non-ferrous metal smelting and rolling processing industry, both maintaining monthly invoiced sales revenue growth since June.
Driven by the sales recovery in key industries, the province's industrial business entities achieved 6.6% year-on-year growth in invoiced sales revenue in August, accounting for 46.5% of the province's total invoiced sales revenue increase for the month.
Key sectors continue to drive growth, with industrial chain effects becoming increasingly evident. The expanded implementation of large-scale equipment renewal and consumer goods trade-in policies has effectively promoted the development of equipment manufacturing and consumer goods manufacturing industries. Value-added tax invoice data shows that from January to August, the province's instrument and meter manufacturing industry achieved 11.1% year-on-year growth in invoiced sales revenue. Driven by continued accelerated development in new energy vehicles, high-end equipment, and biomedicine sectors, specialized equipment manufacturing and metal products industries achieved year-on-year growth of 11.6% and 43.8% respectively in invoiced sales revenue.
Meanwhile, the province's consumer goods manufacturing industry achieved 30.5% year-on-year growth in invoiced sales revenue, 35.9 percentage points higher than the overall industrial invoiced sales revenue growth rate. Specifically: with the deepening advancement of green and organic agricultural and livestock product output base construction, the province's agricultural and sideline food processing industry and food manufacturing industry achieved year-on-year growth of 95.1% and 4.0% respectively in invoiced sales revenue. The expansion of carbon applications in domestic aerospace, aviation, new energy and other high-end emerging fields, combined with accelerated "going global" initiatives, promoted both volume and price increases for carbon fiber products, driving the chemical fiber manufacturing industry to achieve 44.4% year-on-year growth in invoiced sales revenue.