The new growth drivers index for China’s economic development maintains strong increasing momentum with internet economy surging the most, Sina Finance reported on Tuesday.
China’s new economic growth drivers index stood at 332 in 2019, an increase of 23.4 percent over the previous year, according to data from the National Bureau of Statistics.
The internet economy index reached 856.5 last year, an increase of 42 percent over the previous year, contributing 80.5 percent to the exponential growth of new drivers of economic development.
Compared with other sub-indexes, the internet economy index had the highest growth rate and made the largest contribution.
The innovation-driven index recorded 201.4 points in 2019, up 15.6 percent over the previous year, and contributed 8.6 percent to the growth of the index.
The economic vitality index was 313.6 last year, an increase of 7.4 percent over the previous year, and the contribution rate to the overall index growth was 6.9 percent.
In 2019, the knowledge capability index was 147.2, up 8.3 percent from the previous year and the transformation and upgrading index was 141.4, up 1 percent over the previous year.
The new economic growth drivers index refers to a statistical index system with new industries, new business forms and new business models as the main content.
It includes five sub-indexes, namely internet economy index, innovation-driven index, economic vitality index, knowledge capability index, and transformation and upgrading index.