BEIJING - China's economy accelerated its transition toward innovation-led and green development during the 14th Five-Year Plan period (2021-2025), according to tax invoice data released on Wednesday.

High-end manufacturing showed robust growth, with sales revenue in the equipment manufacturing sector rising by an average annual rate of 9.1 percent over the past five years, according to data from the State Taxation Administration.

In 2025, equipment manufacturing accounted for 47.7 percent of total manufacturing sales, up 4.7 percentage points from 2021, driven particularly by double-digit gains in computer communication and instrument manufacturing.

The five-year period also witnessed a surge in innovation, as sales revenue for high-tech industries grew by an annual average of 13.9 percent. In 2025 alone, the smart consumer device, integrated circuit, and robot manufacturing sectors recorded impressive year-on-year sales growth of 32.4 percent, 19.2 percent, and 24 percent, respectively.

Digital transformation and the green transition have significantly deepened, with core industries of the digital economy experiencing an average annual sales increase of 10.5 percent over the past five years, according to tax data.

Meanwhile, sales of the new energy vehicle manufacturing and clean energy generation sectors increased by an average of 49.5 percent and 13.9 percent annually, respectively. In 2025, sales of clean energy generation accounted for 38.5 percent of all electricity production revenue, up 6.9 percentage points from 2021.