Labor input is driven by the rise in China's new economic index has rebounded

Beijing, November 3 (China News Network) The latest research data show that in October, the MasterCard Caixin Bad China New Economy Index rose to 28.9, that is, the proportion of new economic input in the entire economic input was 28.9%, up 0.7 percentage points from September.

The rise in the noi in October was mainly due to the increase in labor input. Nei includes three first-level indicators of labor, capital and technology, with weights of 40%, 35% and 25%, respectively. Among them, the labor input index recorded 22.3, up 1.5 from September; the science and technology input index recorded 27.7, up 0.3; and the capital input index recorded 37.3, unchanged from September.

By industry, the contribution of high-end equipment manufacturing to the total index rose significantly, up 5.2 percentage points from September. Judging from the detailed data, the increase in the proportion of high-end equipment manufacturing in October mainly comes from the increase in the proportion of bidding in the industry.

Independent innovation in the lithium battery industry has made great progress. In 2021, the average monthly inventor scale of the lithium battery industry reached 13,077 person-times, an increase of nearly 1 times over 2019. In the same period, among design patents, invention patents and utility model patents, the average monthly number of non-appearance patent applications was 3180, an increase of more than 10% over 2019, accounting for 96.1% of all patent applications, an increase of 4.1 percentage points over 2019.

From April 2021 to October 2021, Beijing, Hangzhou, Nanjing, Shenzhen and Wuhan ranked in the top five in the average ranking of cities in nei.

Chang Qing, president of Mastercard China, said that the data shows that China's GDP in the first three quarters increased by 9.8% year-on-year, and the national economy continued to recover and develop. Heading into the fourth quarter, Nei made a good start to the end of the year. In this month's report, we particularly saw a sharp increase in the contribution of the high-end equipment manufacturing industry, as well as the outstanding performance of carbon peak-related industries, highlighting the positive trend of steady progress in industrial development and accelerated quality improvement and upgrading under the leadership of key industries.

Developed in collaboration with the National Institute for Development Studies at Peking University and others, nei aims to measure the degree of activity of the new economy in China's economic transition relative to the traditional economy or the old economy. (End)

Source: China News Network