China’s New Economy Engine Cools on Waning Capital, Tech Investments

China’s new economy lost some of its steam in July as softer capital and technology investments weighed on high value-added sectors, a Caixin index shows.

The Caixin BBD New Economy Index (NEI) came in at 33.8, down 0.3 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.