China’s New Economy Industries Tread Water

The contribution of high value-added industries such as biomedicine to China’s total economic inputs held steady last month, as an increase in technology inputs was offset by a decline in capital inputs, a Caixin index showed Monday.

The Caixin BBD New Economy Index (NEI) came in at 33.1 in May, unchanged from the previous month, indicating that new economy industries accounted for 33.1% of China’s overall economic inputs. The reading was the joint-lowest since October.