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

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.