March Caixin China New Economy Index drops to 31.7

2026-04-04 02:31:23

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【Caixin】 Despite continued increases in technology investment, affected by declines in capital input and labor input, in March 2026 the Caixin China New Economy Index (NEI) fell to 31.7.

Data released by Caixin Think Tank on April 2 showed that in March 2026 the NEI recorded 31.7, meaning that new economy investment accounted for 31.7% of total economic investment, down 2.1 percentage points from the previous month. The report said that since 2021, the new economy index has shown a fluctuating upward trend.

The NEI includes three primary indicators: labor, capital, and technology, with weights of 40%, 35%, and 25%, respectively. In March 2026, the decline in the NEI was mainly due to a drop in capital input: the capital input index fell 6.1 from the previous month, to 41.6. The labor input index recorded 21.7, down 0.6; the technology investment index continued to rise, reaching 33.7, up 1.2 from the previous month. After multiplying by their respective weights, the relative values of the changes in labor, capital, and technology investment are estimated to be about -0.2, -2.2, and 0.3 percentage points, respectively.

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