Wang Zhe: China's New Economy Index declined in March, mainly due to reduced capital investment.

In March 2026, Caixin China New Economy Index (NEI) recorded 31.7, meaning that new economy investment accounted for 31.7% of total economic investment. On a comparable basis, this month’s NEI fell by 2.1 percentage points from the previous month. From 2021 to today, the new economy index has shown a trend of fluctuating growth.

NEI comprises three first-level indicators: labor, capital, and technology. Their respective weights in NEI are 40%, 35%, and 25%. Among them, the labor indicator includes the number of new economy job postings and the proportion of the total wage amount. The capital indicator includes the proportion of risk investment in new economy sectors, the proportion of tendering, the proportion of registered capital for new Third Board (New Third Board) companies that apply to be listed, and the proportion of newly registered capital for companies. The technology indicator includes the proportion of patent applications in new economy fields and the proportion of patent transformation quantities. All of the above data come from internet big data.

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