Caixin
ECONOMY

G20 Gives Hangzhou's New Economy a Boost

By Coco Feng

(Beijing) — The MasterCard Caixin BBD New Economy Index (NEI) for August shows Hangzhou, the host city of the G20 Leaders Summit, leading all Chinese cities in new-economy activity, up from fourth place the previous month.

Meanwhile, the index for the country as a whole fell to 28.5, the lowest of the year, reflecting the fact that China's high-tech industry has continued contracting due to lower capital investments.

This month's reading declined 90 basis points compared with July.

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