Higher Labor Investment Pushes Up Caixin New Economy Index

The contribution of high value-added industries such as biotech to China’s total economic inputs expanded in November due chiefly to a rise in labor investment, a Caixin index showed Thursday.

The Mastercard Caixin BBD New Economy Index (NEI) came in at 29.6 last month, indicating that new economy industries accounted for 29.6% of China’s overall economic input activities. The reading was up from 28.9 in October, rising for the second consecutive month.