On December 25, the 13th meeting of the Standing Committee of the 14th National People's Congress voted to pass the Value-Added Tax Law, which will come into force on January 1, 2026.
National Bureau of Statistics: In October, the added value of industries above designated size increased by 5.3% year-on-year in real terms. From a month-on-month perspective, in October, the added value of industries above designated size increased by 0.41% compared with the previous month. From January to October, the added value of industries above designated size increased by 5.8% year-on-year.