Value-added tax invoice data show Shanghai's industrial sector held steady in the first four months of the year, with high-tech industries growing strongly and consumer markets continuing to warm up. Industrial sales revenue rose 1.9% year on year and manufacturing 1.8%, with equipment manufacturing up 1.2%. Bao'erjie Automation Equipment (Shanghai) reported revenue growth of 40.1%, citing faster mass production of domestic large aircraft, import substitution for aero engines and a recovering international aviation market.
High-tech industries were the main engine of new momentum: sales revenue grew 15.6% year on year, while core digital economy industries grew 9.7%. Shanghai Anlogic Infotech, a leading domestic FPGA chip supplier, posted first-quarter sales of 166 million yuan, up 77.46% year on year, attributing growth to upgrading domestic high-end manufacturing and substitution of imported core chips.
Driven by AI production and application, sales of electronic specialty materials and integrated circuit manufacturing grew 38.0% and 6.5% respectively, and robot sales rose 31.0%. Tangen Intelligent Technology (Shanghai), a cleaning-robot maker in the Zhao Xiang park, saw sales grow about 70%, helped by orders from the China International Import Expo and continuous product iteration from its TN10 to TN70 models.
Telecom device retail sales grew 64.2% on electronics trade-in programs and lottery-style invoice incentives, while leisure tourism, travel agency services and cultural and sports entertainment grew 43.2%, 14.7% and 36.9% respectively. A Shanghai tax official said the department will continue improving tax and fee services and implementing support policies to strengthen corporate development momentum and market vitality.