The vitality of the private economy continued to increase in the first four months of this year.

The latest data released by the State Taxation Administration shows that in the first four months of this year, the development of the private economy has been stable and improving, with market vitality continuing to rise. In the first four months of this year, private enterprises and individual businesses across the country have enjoyed tax reductions, fee cuts, and refunds totaling 351.88 billion yuan, accounting for 64.6%, making them the main beneficiaries of preferential tax policies. Value-added tax invoice data shows that in the first four months of this year, the sales revenue of private economic entities increased by 3.6% compared to the same period last year, which is 0.9 percentage points higher than the national average for all enterprises, accounting for 71.3% of the total sales revenue of all enterprises in the country. By industry, private enterprises in the manufacturing and high-tech industries have seen faster growth in sales revenue, with growth rates higher than the national average for the same industries.