Caixin New Economy Index Falls on Declining Labor Inputs

The contribution of high value-added industries such as biotech to China’s total economic inputs slipped in December due chiefly to a drop in labor inputs, a Caixin index showed Monday.

The Caixin BBD New Economy Index (NEI) came in at 29.7 last month, indicating that monitored new economy industries accounted for 29.7% of China’s overall economic input activities. The reading is down 0.3 points from 30 in November.