Caixin
Apr 04, 2022 06:36 PM
ECONOMY

Caixin New Economy Index Dips on Shrinking Labor Inputs

Workers make solar photovoltaic modules for export at a workshop of a new energy technology company in Nantong, Jiangsu province, on March 7. Photo: VCG
Workers make solar photovoltaic modules for export at a workshop of a new energy technology company in Nantong, Jiangsu province, on March 7. Photo: VCG

The contribution of high value-added industries such as biotech to China’s total economic inputs shrank in March due chiefly to a decrease in labor inputs from the previous month, a Caixin index showed.

The Mastercard Caixin BBD New Economy Index (NEI) came in at 30.6 in March, indicating that new economy industries accounted for 30.6% of China’s overall economic input activities. The reading was down from 31.1 in February.

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