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flag China's 2024 tax cuts boosted manufacturing and high-tech sectors, driving faster sales growth.

flag In 2024, China implemented tax cuts and refunds totaling 2.63 trillion yuan ($366.75 billion) to boost scientific innovation and manufacturing. flag This led to high-tech sectors seeing sales growth 9.6 percentage points faster than the national average, while manufacturing enterprises grew 2.2 percentage points faster than the national rate. flag Equipment, digital product, and high-tech manufacturing sectors saw growth rates of 6.2%, 8.3%, and 9% respectively, indicating progress towards advanced manufacturing.

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