China's economy has shown steady improvement in the first 11 months of 2025, with ongoing optimization of the economic structure and strengthening of development momentum, according to data released by China's State Taxation Administration on Monday.

Tax data shows that in the first 11 months of this year, the total amount of mechanical equipment purchased by enterprises nationwide increased by 10.7 percent year on year, indicating a significant boost in equipment investment.

Additionally, the sales revenue from the telecommunications and home appliance retail sectors, which boosted by the consumer goods trade-in program, rose by 20.3 percent and 26.5 percent year on year respectively, reflecting the continued impact of policies aimed at stimulating consumption.

The proportion of tax revenue from the manufacturing sector has remained stable at around 30 percent, underscoring the industry's ongoing role as a "ballast" for the economy.

"Export tax refunds for businesses processed by tax authorities nationwide went up by 6.8 percent year on year, reflecting the resilience of Chinese enterprises in exports, which performed well despite the complexities of the international trade environment," said Cai Zili, deputy commissioner of the State Taxation Administration.

In terms of energy structure, invoice data shows that sales revenue in the clean energy sectors, such as wind, solar, and hydropower, grew by 14.9 percent year on year in the first 11 months, accounting for 38 percent of total electricity industry sales revenue, an increase of 4.3 percentage points compared to the previous year.

"Revenue from wind and solar power generation rose by 16.8 percent and 35.7 percent year on year, respectively, indicating the rapid advancement of the green transformation of China's energy structure," said Cai.