Invoice Data Shows Annual Sales Revenue of Private New Energy Vehicle Enterprises in China Grew by an Average of 50.1% Over the Past 4 Years

On July 28, it was reported that the State Council Information Office held a series of themed press conferences on "High-Quality Completion of the 14th Five-Year Plan" at 10 a.m. today. Director Hu Jinglin, Deputy Director Wang Daoshu, Deputy Director Cai Zili, and Chief Economist and Spokesperson Rong Hailou of the State Taxation Administration were invited to introduce the relevant situations of tax reform and development during the 14th Five-Year Plan period and answer questions from reporters.

According to the official transcript obtained by IT Home, under the strong support of national tax incentives and other related policies, China has achieved positive results in high-quality development during the "14th Five-Year Plan" period.

• First, the development of the manufacturing industry has been steady in quantity and improved in quality. Invoice data show that from 2021 to 2024, the sales revenue of manufacturing enterprises accounted for about 29% of all enterprises, providing important support for economic growth. In particular, the steady advancement of "high-end and intelligent" manufacturing has driven annual sales revenue growth of 9.6% and 10.4% respectively in the equipment manufacturing and high-tech manufacturing sectors, with year-on-year increases of 8.9% and 11.9% in the first half of this year. Among them,The sales revenue of the "new three items" — new energy vehicles, photovoltaic equipment, and lithium batteries — has grown at an average annual rate of 37.6%.The annual average sales revenue of the industrial robot and service consumer robot manufacturing industries increased by 23.2% and 17.2%, respectively.

• Second, the momentum of innovation has increased significantly. The policy of additional tax deduction for R&D expenses is an important tax support measure to promote scientific and technological innovation. During the 14th Five-Year Plan period, China’s policy on additional tax deduction for R&D expenses has been continuously optimized and strengthened. In 2024, enterprises enjoyed a total of 3.32 trillion yuan in additional R&D expense deductions, benefiting 615,000 enterprises—an increase of 25.5% and 16.7% respectively compared to 2021. This has played a key role in raising China’s R&D investment intensity to 2.68%.

• Third, the private sector has steadily grown stronger. Invoice data show that the share of private sector sales revenue in the national total increased from 68.9% in 2020 to 71.7% in the first half of this year. Among them,From 2021 to 2024, the sales revenue of private enterprises in the fields of industrial robots and new energy vehicles increased at an average annual rate of 24.1% and 50.1%, respectively....demonstrating stronger vitality and potential for development.

In addition, from 2021 to 2024, the annual average growth rate of sales revenue in the clean energy power generation industry—including wind power, solar power, and hydropower—reached 13.1%. The proportion of sales revenue from clean energy in the total power industry increased from 30.3% to 33.8%. Meanwhile, the sales revenue of industries related to ecological protection grew at an average annual rate of 26%, achieving rapid development.