China’s New Economy Industries Jump on Gains Across Key Inputs, Caixin Index Shows

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Workers install photovoltaic panels on the roof of a factory at an industrial park in Qingdao, East China's Shandong province, on Aug. 29. Photo: VCG

The contribution of high value-added industries, such as biomedicine, to China’s total economic inputs increased in September after reaching a five-month low the previous month, driven by greater capital and technology inputs, a Caixin index showed Wednesday.

The Caixin BBD New Economy Index (NEI) ticked up 1.1 points from August to 30.9 last month, indicating that new economy industries accounted for 30.9% of China’s overall economic input activities.

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In September, new economy industries like biomedicine accounted for 30.9% of China's total economic inputs, recovering from a five-month low due to increased capital and technology inputs.
The Caixin BBD New Economy Index showed capital inputs rose to a one-year high of 44.1, and technology inputs reached a third-quarter high of 33.1, despite a decline in labor inputs.
The new information technology industry remained the largest contributor, and entry-level salaries in these sectors averaged 12,898 yuan ($1,841) in September.

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