ECONOMY

China New Economy Gauge Drops on Weaker Capital, Labor Inputs

Published: Apr. 2, 2026 12:15 p.m. GMT+8

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The contribution of high value-added industries such as biomedicine to China’s total economic inputs dropped in March, with declines in capital and labor inputs, a Caixin index shows.

The Caixin BBD New Economy Index (NEI) came in at 31.7, down 2.1 points from the previous month. That indicates new economy industries accounted for 31.7% of China’s overall economic inputs.

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Caixin BBD NEI dropped to 31.7 in March, down 2.1 points MoM, indicating 31.7% of China's economic inputs from new economy industries.
Capital subindex fell 6.1 points to 41.6 (35% weight); labor down 0.6 to 21.7 (40% weight); technology up 1.2 to 33.7 (25% weight).
New IT contributed 13.9 points; average entry-level salary 13,368 yuan ($1,945), down 310 yuan MoM.

AI generated, for reference only

Who’s Who

Caixin Insight Group: Caixin Insight Group co-authors the Monthly NEI reports with BBD and the National School of Development at Peking University.

BBD: BBD (步步递进) is a Chinese big-data research firm that collaborates with Caixin Insight Group and the National School of Development at Peking University to produce the monthly Caixin BBD New Economy Index (NEI) reports.

AI generated, for reference only