Shanghai's mid-year economic report shows GDP grew 5.6% year on year, with the three leading advanced industries growing 14.5% in manufacturing output; AI manufacturing output grew 21.8%, up from 19.2% in the first quarter. A researcher attributed the acceleration to long-accumulated conditions entering a release phase, adding that tax authorities also contributed. Companies said that with guidance from tax and science departments they completed innovative professional assessments of 20 high-risk R&D projects across three group R&D firms, resolving tax risks in aggregation, ownership and transactions. In the smart terminal sector, a communications company built a full-chain compliance management system with independent R&D expense ledgers to clearly separate R&D and production costs. Shanghai tax authorities said they will keep monitoring AI industry trends, optimizing tax and fee services and guiding innovative firms to stay compliant while deepening core innovation.
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Shanghai Tax Authorities Refine Services for the AI Industry's Growth
Shanghai's first-half economic report shows GDP up 5.6% year on year, with the three leading industries' manufacturing output up 14.5%; AI manufacturing output grew 21.8%, up from 19.2% in Q1. Companies completed innovative professional assessments for 20 high-risk R&D projects with guidance from tax and science departments, resolving tax risks in cost aggregation, ownership and transactions. Tax authorities pledged continued optimized services to support high-quality AI industry development.
2026-09-30