Shanxi's economy starts 15th Five-Year Plan period on positive note

The Shanxi Provincial Tax Service of the State Taxation Administration has released tax data and VAT invoice statistics, indicating a positive economic trajectory for Shanxi province in the inaugural year of the 15th Five-Year Plan (2026-30) period. 

The industrial sector, particularly manufacturing, which forms the economy's backbone, has shown steady growth. In the first half of the year, industrial enterprises in Shanxi saw a 2.87 percent year-on-year increase in sales revenue, with manufacturing alone rising 4.85 percent. Industrial enterprises' sales revenue accounted for 50.14 percent of the total business sales revenue.

Key sectors representing new quality productive forces – such as equipment manufacturing, information transmission, software and IT services, and scientific services – contributed 7.40 percent to total enterprise sales revenue, up 0.51 percentage points from the previous year.

Furthermore, key taxpayer enterprises reported an 8.58 percent year-on-year profit growth, indicating improved corporate profitability. This positive trend in key industries also led to a 3.05 percent increase in the total declared wages and salaries for personal income tax.

Additionally, clean energy generation, including wind, solar, hydro, and nuclear, saw a 27.87 percent increase in sales revenue, making up 24.50 percent of power production sales – a 5.06 percentage point rise from last year. 

Sales revenue from new energy vehicles and lithium battery manufacturing grew by 85.58 percent and 4.44 percent, respectively, indicating ongoing progress in new energy applications.