Sep 04, 2023 06:36 PM

ECONOMY

Caixin China New Economy Index Expands on Rising Investment

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A robot processes lithium batteries on Aug. 28 in Yichang, Central China’s Hubei province. Photo: VCG

A robot processes lithium batteries on Aug. 28 in Yichang, Central China’s Hubei province. Photo: VCG

The contribution of high value-added industries such as biomedicine to China’s total economic inputs expanded in August due chiefly to a rise in capital inputs, a Caixin index showed Saturday.

The Caixin BBD New Economy Index (NEI) came in at 30.4 last month, indicating that new economy industries accounted for 30.4% of China’s overall economic input activities. The reading is up from 29.5 in July, and marks a second straight month of growth.

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