On September 2nd, the Caixin website released the August 2024 Caixin BBD China New Economy Index (NEI) which dropped to 29.8, indicating that the proportion of new economic input to the overall economic input is 29.8%. In July, the index was 31.
According to a report by Caixin website on September 2nd, data jointly released by the Caixin Think Tank and BBD on September 2nd showed that the NEI in August was 29.8, a decrease of 1.2 percentage points from the previous month.
Specifically, the NEI includes three primary indicators: labor, capital, and technology, with weights of 40%, 35%, and 25% respectively.
In August, the inputs of all three primary indicators decreased: the technology input index was 30.5, a decrease of 2.4 from the previous month; the labor input index recorded 19, a decrease of 1.2 compared to the previous month; the capital input index decreased by 0.4 to 41.7. When multiplied by the weights, the relative changes in labor, capital, and technology input were approximately -0.5, -0.2, and -0.6 percentage points respectively.
Additionally, the average monthly salary level for new economy industry employees in August was 12,919 yuan (RMB), a decrease of 545 yuan compared to the previous month.
It was reported that since mid-2020, the new economic index has been on a downward trend. From 2021 to the present, the new economic index has fluctuated around the 30% range.
The Caixin BBD China New Economy Index was jointly developed by the Caixin Think Tank and Chengdu BBD Technology Company, in cooperation with the National Development Research Institute of Peking University. The data is released on the 2nd of each month at 10:00 am.
The new economic index covers 10 categories and 145 sub-industries, including energy conservation and environmental protection, new generation information technology and services, biopharmaceuticals, high-end equipment manufacturing, new energy, new materials, new energy vehicles, high-tech services and R&D, modern finance and legal services, sports, culture, and entertainment.