City Ranks 6th in China in Gross Volume of New Economy

Authors: Go Chengdu


Chengdu moved up one notch, from 7 in October to 6 in November, among Chinese cities in terms of the gross volume of new economy, according to data co-released by Caixin Insight and Business Big Data (BBD) on December 2nd.
The top 5 cities are Shanghai, Beijing, Guangzhou, Hangzhou and Nanjing. The ranking is based on the indicators involving high-end labor, capital, and sci-tech innovation.
The Mastercard Caixin BBD China New Economy Index (NEI) in November is 30.2, which means the country's investment in the new economy accounts for 30.2% of that in China's whole spectrum of economy.
The Mastercard Caixin BBD China New Economy Index was developed by Caixin Insight, BBD Chengdu and National School of Development of Peking University, which jointly release data of the previous month at the beginning of every month to assess China's economic vitality of the new economy compared with that of the traditional or old economy amid China's economic transformation. The NEI focuses on such industries involving energy-conservation and environmental protection, new generation information technology and information service, bio-medicine, high-end equipment manufacturing, new energy, new materials, new energy automobile, hi-tech service and R & D, financial and legal services, sports and culture, as well as entertainment.

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