China New Economy Gauge Rises as Tech, Labor Inputs Improve

The contribution of high value-added industries such as biomedicine to China’s total economic inputs rose in February, with gains in tech and labor inputs, a Caixin index showed.

The Caixin BBD New Economy Index (NEI) came in at 33.8, up 1.1 points from the previous month. That indicates new economy industries accounted for 33.8% 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.