ECONOMY

Caixin New Economy Index Rebounds on Jump on Capital Inputs

Published: Aug. 7, 2025 6:20 p.m. GMT+8

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Robotic arms weld automobiles in a Li Auto factory in Changzhou, Jiangsu province, on Jan. 10, 2024. Photo: Xinhua

The contribution of high value-added industries such as biomedicine to China’s total economic inputs rebounded last month from June’s eight-month low, boosted by a notable increase in capital inputs, a Caixin index showed.

The Caixin BBD New Economy Index (NEI) came in at 33.6 in July, up 0.9 points from the previous month, when the index plumbed its lowest since October. That indicates that new economy industries accounted for 33.6% of China’s overall economic inputs.

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China’s Caixin BBD New Economy Index rose to 33.6 in July, reflecting a rebound in high value-added industries like biomedicine.
Capital inputs subindex increased to 49.3, its highest since March, while technology and labor input subindexes also grew.
The new information technology industry was the largest contributor; average monthly entry-level salary in the 10 industries reached 13,127 yuan ($1,827).

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Who’s Who

Caixin Data Technology Co. Ltd.: Caixin Data Technology Co. Ltd. is a collaborator in producing the monthly Caixin BBD New Economy Index (NEI) reports. They work alongside Chinese big-data research firm BBD and the National School of Development at Peking University.

BBD: BBD, or Chengdu BBD Science and Technology Co. Ltd., 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 monthly reports for the Caixin BBD New Economy Index (NEI).

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What Happened When

March 2016：: The Caixin BBD New Economy Index (NEI) was launched.

October 2023：: Before this date, the NEI had not been as low as it was in June 2024.

March 2024：: Previously, capital input subindex was last at or above 49.3 before July 2024.

June 2024：: NEI reached its lowest point since October 2023; subindexes for capital and labor inputs were at lower levels; entry-level salary was 13,016 yuan.

July 2024：: The NEI rebounded to 33.6 (up 0.9 points from June 2024); capital input subindex rose to 49.3 (highest since March 2024); technology input subindex increased to 33; labor input subindex rose to 20.3 (highest since June 2024); new information technology industry’s contribution jumped to 12 (up 2.1 points); entry-level salary in the 10 industries was 13,127 yuan (up 111 yuan from June 2024).

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