Sep 02, 2022 07:53 PM

ECONOMY

Caixin New Economy Index Falls on Drop in Labor Investment

On June 16, a wind power equipment manufacturer was installing wind power equipment in its workshop in Hami, Xinjiang. Photo: VCG

On June 16, a wind power equipment manufacturer was installing wind power equipment in its workshop in Hami, Xinjiang. Photo: VCG

The contribution of high value-added industries such as biotech to China’s total economic inputs dropped in August due chiefly to a decrease in labor investment, a Caixin index showed Friday.

The Caixin BBD New Economy Index (NEI) came in at 29.9 last month, indicating that new economy industries accounted for 29.9% of China’s overall economic input activities. The reading was down from 31.4 in July.

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