China’s New Economy Index Bounces Back
The New Economy Index (NEI), published by Caixin Insights Group and BBD (Business Big Data, a quantitative business analytics firm), stood at 29.39 in October, rebounding after three consecutive months of decline.
The NEI tracks the performance of China’s high value-added manufacturing and services industries, including energy conservation and environment protection, renewable energy, information technology and services, biotech, advanced equipment manufacturing, and financial and legal services.
The reading 29.39 indicates that those high value-added industries contributed to 29.39% of China’s overall economic input in October, up from 28.85% in September. The October’s reading, however, is still lower compared to the same time in 2019.
Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q4 2020 report.