Decline in Tech Inputs Drags Down New Economy Index

High value-added industries contributed less to China’s economy in May as technology inputs in those industries declined, a Caixin index showed Sunday.

The Mastercard Caixin BBD New Economy Index (NEI) dipped to 28 in May from 28.6 in the previous month, indicating that new economy industries accounted for 28% of China’s overall economic input activities. The index measures labor, capital and technology inputs in 10 emerging industries relative to those of the whole economy.