Equipment Renewal Momentum Strong in Manufacturing During First Three Quarters

Deep News10-25

Data from the State Taxation Administration's invoice records shows that in the first three quarters, corporate equipment investment grew steadily, with strong renewal momentum in manufacturing and other sectors.

The national amount of machinery and equipment purchases by enterprises, which reflects equipment investment conditions, rose 12.6% year on year. In the third quarter alone, it increased 15.9% year on year, accelerating by 4.6 percentage points compared with the second quarter.

Specifically, manufacturing showed solid momentum in equipment renewal, with machinery and equipment purchases rising 17.6% year on year in the third quarter, up 4.7 percentage points from the second quarter's growth rate.

Driven by the accelerated construction of computing power centers and data centers, machinery and equipment purchases in the information and scientific research sectors grew 30.4% and 24.9% year on year respectively in the third quarter, accelerating by 6 percentage points and 4.1 percentage points compared with the second quarter.

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