Capital input recovers, labor index rebounds and technical input remains stable with a slight decline

Shanghai – October 12, 2016 – The Mastercard Caixin BBD China New Economy Index (NEI) for September stood at 30.1, according to the data published recently. The figure means that the New Economy accounted for 30.1% of China’s overall economic input in September and marks a 1.6% increase from August’s score of 28.5, back to the level seen in April to March this year.

The NEI, as an important indicator for measuring economic development in China, is part of Mastercard’s global insight and research resources and provides practical support for China’s economic growth under the conditions of the ‘new normal’. The NEI consists of three primary indicators; labor, capital, and technology, which account for 40%, 35%, and 25% respectively.

The slight recovery of the NEI in September was mainly attributable to an increase in capital input. The labor index also saw a slight rebound. It exceeded 30 to reach 31.4 for the first time in March, followed by a continuous decline over the subsequent four months. In August and September, it rebounded slightly to reach 28.3, higher than figures for most months of last year.

The capital input indicator has seen great fluctuations in the past six months, including a two-month robust rebound followed by three months of consecutive decline. It ticked up to 30.9 in September.

The technology input indicator was stable with a slight decline, reaching 30.5 in August.

Mastercard, the world’s leading payment technology company, has sponsored the China New Economy Index from July of this year, when its name was officially changed to the “Mastercard Caixin BBD China New Economy Index”.

The NEI was developed by the Caixin Insight Group, BBD, and the National Development School of Peking University. It publishes economic data of the previous month at 10:00am on second day of each month.

The NEI measures the level of activity of the New Economy during China’s economic transformation compared with the traditional economy, or the ‘old economy’. It covers 111 sectors in nine categories, including: energy saving and environmental protection; the new generation of the information technology and information services industry; biomedicine; high-end equipment manufacturing; new energy; new materials; new energy automotives; advanced technical services and research and development; as well as financial and legal services.

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About Mastercard

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Huanyu Wu, 86 10 8519 9304  
Cindy Choo, 86 21 2411 0003

About Caixin

Caixin Media is China’s leading media group dedicated to providing financial and business news through periodicals, online content, mobile applications, conferences, books and TV/video programs. Caixin Media aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms. Caixin Insight Group is a high-end financial data and analysis platform. For more information, please visit

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Ling MA, Caixin Insight Group,, 86 10 8590 5204

About BBD (Business Big Data)

BBD is a leading Big Data and quantitative business analytics firm specializing in the analysis of the high-growth industries emerging in Mainland China. Through dynamic data tracking, credit analysis, risk pricing and economic index construction, BBD provides its clients with a wide range of services at both the macro and micro level. For more information, please visit

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CHEN QIN, Chief Economist,, 86 28 65290823