The State Administration of Taxation held a press conference on December 8th. The latest tax data shows that since 2025, driven by policies such as trade in of consumer goods, consumer demand has continued to be released. The sales of home appliances, new energy vehicles and other products have maintained rapid growth, and the fields of culture, tourism, sports and other industries have also shown high consumption heat. According to invoice data, in the first 11 months of 2025, the sales revenue of the retail industry of communication devices such as mobile phones and the retail industry of daily household appliances such as refrigerators increased by 20.3% and 26.5% year-on-year, respectively. The consumption of new energy vehicles continues to improve, with sales revenue of new energy passenger vehicles increasing by 19.1% year-on-year. At the same time, new business models and scenarios continue to emerge in the cultural and tourism market, stimulating sustained consumption vitality. Rong Hailou, Chief Economist and spokesperson of the State Administration of Taxation, introduced that from January to November, the sales revenue of literary and artistic creation and performance, as well as film screening, increased by 15.6% and 19.1% respectively year-on-year, and integrated with the tourism industry, driving the vigorous development of immersive and scene based tourism consumption. From January to November, the sales revenue of travel agencies and related services, scenic spots, and leisure tourism activities increased by 10.8%, 29.4%, and 16.6% year-on-year, respectively. The homestay effectively integrates regional characteristics with personalized services, better meeting consumer needs, and corresponding sales revenue increased by 13.1% year-on-year. In addition, the sports and health sector has shown a high level of consumer enthusiasm. According to invoice data, in the first 11 months of 2025, the retail sales of sports exhibition services, sports goods and equipment increased by 29.7% and 6.6% year-on-year, respectively. At the same time, health consumption continues to become a new hot spot in consumption, with retail sales of health auxiliary treatment equipment and sales of health consulting services both maintaining double-digit growth. In the first 11 months of 2025, the sales revenue of the national equipment manufacturing industry increased by 8.3% year-on-year. The State Administration of Taxation held a press conference on December 8th. According to the relevant person in charge, the latest value-added tax invoice data shows that the high-end development of the manufacturing industry will accelerate in the first 11 months of 2025. The sales revenue of the equipment manufacturing industry increased by 8.3% year-on-year, especially the sales revenue of the computer communication equipment manufacturing industry and the instrument manufacturing industry increased by 12.3% and 10.3% respectively, reflecting the accelerated promotion of high-end manufacturing. From January to November, with the implementation of large-scale equipment update policies, the amount of automation equipment purchased by manufacturing enterprises increased by 14.2% year-on-year, reflecting the accelerated pace of intelligent upgrading in the manufacturing industry. (New Society)