ECONOMY

China’s New Economy Gauge Jumps

Published: Jul. 2, 2026 11:50 a.m. GMT+8

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The contribution of high value-added industries such as biomedicine to China’s total economic inputs jumped in June, driven by growth in capital, tech and labor inputs, a Caixin index shows.

The Caixin BBD New Economy Index (NEI) came in at 34.1, up 1.7 points from the previous month. That indicates new economy industries accounted for 34.1% of China’s overall economic inputs.

The NEI uses big data to track the size of China’s new economy industries. It measures labor, capital and technology inputs in 10 emerging industries relative to those used in all industries.

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China's Caixin BBD New Economy Index (NEI) rose to 34.1 in June, up 1.7 points from the previous month, driven by growth in capital, technology, and labor inputs.
The capital subindex rose 2.5 points to 49.5, technology rose 2.2 to 33.4, and labor rose 1 to 21.2.
Average monthly entry-level salary in tracked industries was 13,114 yuan ($1,933), down 239 yuan month-on-month; new IT was the largest contributor.

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1. [para. 1][para. 2] The Caixin BBD New Economy Index (NEI) for June rose to 34.1, up 1.7 points from the previous month, indicating that new economy industries accounted for 34.1% of China’s overall economic inputs. This increase was driven by growth in capital, technology, and labor inputs, particularly from high value-added sectors such as biomedicine.

2. [para. 3] A chart accompanying the report visually confirms the NEI value of 34.1 for June, using a line graph to track the index over time.

3. [para. 4][para. 8] The NEI uses big data to measure the size of China’s new economy industries by comparing labor, capital, and technology inputs in 10 emerging industries against all industries. Launched in March 2016, it defines a new economy industry as technology- and human capital-intensive but asset-light, with sustainable rapid growth and government encouragement.

4. [para. 5][para. 6][para. 7] The subindex for capital inputs (35% weighting) rose 2.5 points month-on-month to 49.5. The technology inputs gauge (25% weighting) increased by 2.2 points to 33.4, measuring research personnel, inventions, and patents. The labor inputs gauge (40% weighting) rose 1.0 point to 21.2, tracking salaries and positions at new economy companies.

5. [para. 9] Among the 10 tracked industries, the new information technology sector remained the largest contributor to the index, adding 15 points in June.

6. [para. 10] The average monthly entry-level salary across these 10 industries was 13,114 yuan ($1,933), down 239 yuan from the previous month, based on data from online recruitment websites.

7. [para. 11] Monthly NEI reports are produced by Caixin Insight Group and Chinese big-data research firm BBD, in collaboration with the National School of Development at Peking University.

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Who’s Who

BBD: BBD (成都数联铭品科技有限公司) is a Chinese big-data research firm. It co-authors the Caixin BBD New Economy Index (NEI) with Caixin Insight Group and Peking University's National School of Development, using big data to track China's new economy industries.

Caixin Insight Group: Caixin Insight Group is a Chinese big-data research firm that collaborates with BBD and Peking University's National School of Development to produce the monthly Caixin BBD New Economy Index (NEI). The NEI tracks the size of China's new economy industries by measuring labor, capital and technology inputs.

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