ECONOMY

China’s New Economy Industries Gain as Capital, Labor Inputs Rise

Published: Feb. 3, 2025 6:21 p.m. GMT+8

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Of the 10 tracked industries, the new information technology industry remained the largest contributor to the index. Photo: AI generated

The contribution of high value-added industries such as biomedicine to China’s total economic inputs rose last month, due primarily to an increase in capital inputs, a Caixin index showed Sunday.

The Caixin BBD New Economy Index (NEI) came in at 33.8 in January, up 0.3 points from the previous month. That indicates that new economy industries accounted for 33.8% of China’s overall economic inputs.

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The Caixin BBD New Economy Index (NEI) rose to 33.8 in January, showing new economy industries comprised 33.8% of China's economic inputs.
Capital inputs increased to 49 with labor inputs rising to 19.4, while technology inputs dropped to 35.5, a decline from December's 38.6.
The largest contributor was still the information technology industry, despite a second consecutive decline, and average entry-level salaries increased to 12,925 yuan ($1,803).

AI generated, for reference only

Who’s Who

Caixin Data Technology Co. Ltd.: Caixin Data Technology Co. Ltd. collaborates with BBD and the National School of Development at Peking University to produce monthly reports on the Caixin BBD New Economy Index. This index tracks the size of China's emerging industries, focusing on labor, capital, and technology inputs. Their work involves using big data to monitor the growth and impact of these industries within China's economy.

BBD: BBD is a Chinese big-data research firm that collaborates with Caixin Data Technology Co. Ltd. and the National School of Development at Peking University. Together, they produce the Caixin BBD New Economy Index (NEI), which tracks the size of China's emerging industries using big data to measure labor, capital, and technology inputs.

AI generated, for reference only

What Happened When

December 2024：: NEI: 33.5, Capital inputs: 47, Technology inputs: 38.6, New information technology industry contribution: >10.1, Average entry-level salary: 12,590 yuan

January 2025：: NEI: 33.8 (+0.3), Capital inputs: 49 (+2), Labor inputs: 19.4 (+0.9), Technology inputs: 35.5 (-3.1), New information technology industry contribution: 10.1, Average entry-level salary: 12,925 yuan (+335)