In China, driven by tax and fee incentives policies and other supporting policies, technology innovation has advanced faster in its integration with innovations in industries, and new quality productive forces also took a leap in development.

Three key trends are highlighted according to invoice data:

High-tech industries become more competitive. High-tech industries raised their sales revenue in 2025 by 13.9% year on year. From January 1 to March 25, the revenue rose higher by 14.6% against the same period of the previous year. The data proved that industrial upgrading driven by technological innovations is advancing further in China.

Scientific and technological R&D achievements have been transformed into productive forces at a faster pace.

In 2025, the scientific research and technical services sector and intellectual property-based high-tech industries increased their sale revenues by 20.4% and 10.7% year on year, respectively. From January 1 to March 25 this year, their revenues jumped by 21% and 10.9% than the same period of last year.

The real economy is much more integrated with the digital economy. In 2025, the major part of the digital economy-based industries raised their sale revenues by 9.4%, and spending of enterprises across China on digital technology procurement was higher by 9.6% against the last year. From January 1 to March 25 this year, their revenue increased by 9.5% and 9.7% year on year.