The contribution of high value-added industries such as biotechnology to China’s total economic inputs slipped in October due chiefly to a decrease in capital and labor investments, a Caixin index showed Wednesday.
The Caixin BBD New Economy Index (NEI) came in at 28.5 last month, indicating that the monitored new economy industries accounted for 28.5% of China’s overall economic input activities. The reading is down 1.8 points from 30.3 in September.
