Nov 02, 2023 05:48 PM

ECONOMY

Caixin China New Economy Index Falls as Investment Shrinks

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A solar-equipment maker produces photovoltaic panels on Oct. 15 at a factory in Jinhua, East China’s Zhejiang province. Photo: VCG

A solar-equipment maker produces photovoltaic panels on Oct. 15 at a factory in Jinhua, East China’s Zhejiang province. Photo: VCG

The contribution of high value-added industries such as biomedicine to China’s total economic inputs dipped in October as labor, capital and technology inputs all declined, a Caixin index showed Thursday.

The Caixin BBD New Economy Index (NEI) came in at 31 last month, down 0.9 points from September, indicating that new economy industries accounted for 31% of China’s overall economic input activities. The reading marks the first drop in four months.

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