China-Economy Index/Tax/Electricity

Shotlist

Jiangxi Province, east China – July 1, 2022 (CCTV – No access Chinese mainland)
1. Sign reading “Tax Economic Analysis Office”
2. Various of tax officers working in office
3. Line chart

Jiangxi Province, east China – Recent (CCTV – No access Chinese mainland)
4. Various of workers working, machines operating in factories

Jiangxi Province, east China – July 1, 2022 (CCTV – No access Chinese mainland)
5. SOUNDBITE (Chinese) Peng Weiguo, deputy head, tax economic analysis office, Jiangxi Provincial Tax Service, State Taxation Administration (partially overlaid with shot 6):
“Since the beginning of this year, new growth drivers have accelerated development in Jiangxi, with the tax-electricity index staying in the expanding range. From January to May, the sales revenue of electronic information industry in Jiangxi picked up 31 percent year on year, while the sales revenue of lithium-ion battery manufacturing increased 1.8 times year on year, showing positive development trend.”
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6. Line chart
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Zhejing Province, east China – Recent (CCTV – No access Chinese mainland)
7. Various of machines operating in factories

Zhejing Province, east China – July 1, 2022 (CCTV – No access Chinese mainland)
8. SOUNDBITE (Chinese) He Jing, deputy head, economic analysis office, Zhejiang Provincial Tax Service, State Taxation Administration:
“The construction industry, especially civil engineering construction including bridge, railway, expressway and water conservancy, registered positive month-on-month growth in May.”

Sichuan Province, southwest China – July 1, 2022 (CCTV- No access Chinese mainland)
9. Tax and electricity index office
10. Various of officials working in office
11. Documents on tax and electricity index
12. SOUNDBITE (Chinese) Chen Zhifang, head, tax economic analysis office, Sichuan Provincial Tax Service, State Taxation Administration (partially overlaid with shots 13-14):
“The statistics of company production and sales of Sichuan in June rose significantly compared with that in May. It manifests that the effect of macro policies to help firms has been gradually emerging, with the growth trend of economic recovery further consolidated. In particular, in June, both power consumption in production and purchase amount achieved double-digit growth. Market entities’ confidence in production and operation is gradually recovering.”

Sichuan Province, southwest China – Recent (CCTV- No access Chinese mainland)
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13. Construction site
14. Line chart
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15. Various of tax officers serving clients

Storyline

The tax-electricity index, which compares firms’ power consumption in production with their purchase and sales amounts, has reflected the growing trend of economy in the first five to six months across China.

The tax-electricity index, jointly launched by tax and power authorities, references the electricity consumption data and the invoice data of corporations, and involves their business operations in terms of purchase, production and sales.

A figure of the index higher than 100 indicates active economy, and vice versa.

In the first five months, the tax-electricity index of east China’s Jiangxi Province was 116.3, with the index in industrial field being 117.2, showcasing a big support to economic growth.

“Since the beginning of this year, new growth drivers have accelerated development in Jiangxi, with the tax-electricity index staying in the expanding range. From January to May, the sales revenue of electronic information industry in Jiangxi picked up 31 percent year on year, while the sales revenue of lithium-ion battery manufacturing increased 1.8 times year on year, showing positive development trend,” said Peng Weiguo, deputy head of the tax economic analysis office of Jiangxi Provincial Tax Service under the State Taxation Administration.

The index of east China’s Zhejiang Province from January to May was 104.7, a stable and reasonable range for the economy.

“The construction industry, especially civil engineering construction including bridge, railway, expressway and water conservancy, registered positive month-on-month growth in May,” said He Jing, deputy head of the economic analysis office of Zhejiang Provincial Tax Service under the State Taxation Administration.

Between June 1 to 25, the index in southwest China’s Sichuan Province was 107.71, which was 4.17 points higher than in May. In terms of production, sales and market expectations, the index presented a positive trend.

The tax-electricity index in the tertiary industry in Sichuan during the period was 106.72, a significant improvement, 4.13 points higher than in May. The province’s index of wholesale and retail trade was 107.73, and invoice sales revenue of the sector increased by six percentage points.

“The statistics of company production and sales of Sichuan in June rose significantly compared with that in May. It manifests that the effect of macro policies to help firms has been gradually emerging, with the growth trend of economic recovery further consolidated. In particular, in June, both power consumption in production and purchase amount achieved double-digit growth. Market entities’ confidence in production and operation is gradually recovering,” said Chen Zhifang, head of the tax economic analysis office of Sichuan Provincial Tax Service under the State Taxation Administration.