China’s Industrial Sector Sees Steady Growth in July

China's industrial sector registered a steady revenue growth in July 2024, as indicated by an increase in VAT invoice issuance, the State Taxation Administration said. Tax data revealed a 6% year-on-year growth in the sales revenue of industrial companies nationwide in July, 1.7 percentage points higher than that recorded in the second quarter, according to the Administration. Specifically, the mining sector's sales revenue rebounded last month, rising by 9.7% due to increased bulk commodity prices, the Administration said according to Xinhua News Agency. Meanwhile, sales revenue of the electricity generation and supply sector increased by 5.6% in July as China entered its peak season of power consumption. From January to July, the number of new taxpaying business entities rose by 7.3% from a year earlier, the Administration said. Source: Oman News Agency