H1 tax data show biz revenues up 34%

China's tax data for the first half of this year, released on Monday, reflect solid corporate performance, as enterprises' sales revenues rose 34.4 percent year-on-year, based on value-added tax invoices, robust economic growth and steady recovery from the COVID-19 pandemic, the State Taxation Administration said.

Taken together, first-half sales revenues of corporates in 2020 and this year averaged 15.1 percent, indicating stable economic growth momentum, said Zhao Lianwei, deputy head of the STA's Revenue Planning and Accounting Department.

STA tax data showed sales revenues accelerated in the second quarter, especially in the high-tech and innovative industries like information services and research and development design services.