China’s New Economy Industries Stumble on Falling Capital, Tech Inputs
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
A worker assembles a product at a photovoltaic equipment manufacturing enterprise in Yutian county, Hebei Province. Photo: Xinhua
The contribution of high value-added industries such as biomedicine to China’s total economic inputs fell to an eight-month low in June, due primarily to declines in capital and technology inputs, a Caixin index showed.
The Caixin BBD New Economy Index (NEI) came in at 32.7 in June, down 0.4 points from the previous month, indicating that new economy industries accounted for 32.7% of China’s overall economic inputs. The reading was the lowest since October.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- The Caixin BBD New Economy Index (NEI) fell to 32.7 in June, the lowest since October, with high value-added industries accounting for 32.7% of China’s economic inputs.
- Capital input subindex dropped to 47.5 and technology input fell to 32.3, both at annual lows; labor input slightly increased to 20.
- Average monthly entry-level salary in these industries was 13,016 yuan ($1,816), down 110 yuan from May.
AI generated, for reference only
Who’s Who
- Caixin Data Technology Co. Ltd.
- Caixin Data Technology Co. Ltd. writes monthly reports for the Caixin BBD New Economy Index (NEI). This index tracks the size of China's nascent industries by measuring labor, capital, and technology inputs in 10 emerging industries. The reports are a collaboration with BBD and the National School of Development at Peking University.
- BBD
- BBD (数联铭品) is a Chinese big-data research firm. They collaborate with Caixin Data Technology Co. Ltd. and the National School of Development at Peking University to produce the monthly Caixin BBD New Economy Index (NEI) reports, which track China's nascent industries.
AI generated, for reference only
What Happened When
- March 2016：
- The Caixin BBD New Economy Index (NEI) was launched.
- October 2024：
- This was the previous lowest point for both the NEI reading and the new information technology industry’s contribution prior to June 2025.
- June 2025：
- The contribution of high value-added industries such as biomedicine to China’s total economic inputs fell to an eight-month low, as shown by the Caixin BBD New Economy Index (NEI) reading of 32.7.
- June 2025：
- The NEI's subindex for capital inputs dropped 0.8 points from May 2025 to 47.5, marking the lowest so far in 2025.
- June 2025：
- The technology input gauge fell by 0.8 points month-on-month to 32.3.
- June 2025：
- The new information technology industry’s contribution to the NEI fell by 1.1 points to 9.9, the lowest since October 2024.
- June 2025：
- The average monthly entry-level salary in the 10 industries was 13,016 yuan, down 110 yuan from May 2025.
AI generated, for reference only
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新