Apr 02, 2024 04:47 PM

ECONOMY

China’s New Economy Industries Lose a Step as Capital Inputs Tumble

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A robot arm helps assemble a diesel engine on Jan. 23 in Luoyang, Central China’s Henan province. Photo: VCG

A robot arm helps assemble a diesel engine on Jan. 23 in Luoyang, Central China’s Henan province. Photo: VCG

The contribution of high value-added industries such as biomedicine to China’s total economic inputs fell in March, with capital inputs sinking to an eight-month low, a Caixin index showed Tuesday.

The Caixin BBD New Economy Index (NEI) came in at 29.8 last month, indicating that new economy industries accounted for 29.8% of China’s overall economic input activities. The reading is down 1.5 points from 31.3 in February.

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