Caixin New Economy Index Dips on Shrinking Labor Inputs

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.