Due to a decline in capital and technological investment in new economy sectors, China’s New Economy Index (NEI) fell to 32.7 in June.
Data released on July 2 show that the NEI for June stood at 32.7, meaning that investment in the new economy accounted for 32.7% of total economic input, down 0.4 percentage points from the previous month. According to the report, since 2021 the NEI has shown a fluctuating upward trend.
The NEI comprises three primary indicators: labor, capital, and technology, with weights of 40%, 35%, and 25% respectively. In June 2025, capital investment recorded an index reading of 47.5, down 0.8 points from the previous month; the technology investment index came in at 32.3, a month-on-month decrease of 0.8 points; meanwhile, the labor input index rose 0.1 point to 20. After applying their respective weights, the relative contributions of capital, technology, and labor to the overall index were approximately -0.3, -0.2, and 0 percentage points respectively.
By sector, the new generation information technology and information services industry contributed 9.9 percentage points to the total index in June 2025, making it the largest contributor, although its contribution declined by 1.1 percentage points compared with the previous month.
In June 2025, the average starting salary in new economy industries was RMB 13,016 per month, down RMB 110 from the previous month, but still 3.5% higher than the national average starting salary. The premium narrowed by 0.9 percentage points compared with the previous month.