2025 'Three New' Economy Reaches 18.39% of GDP; New Drivers Contribute 50.9% to Industrial Growth in Jan-Jul

Data released by the National Bureau of Statistics (NBS) for July show the economy continuing to shift toward new growth drivers and an improved structure. Wang Guanhua, NBS spokesperson and deputy director of the Department of National Economic Accounting, said at a State Council Information Office press conference on the 17th that the development model is accelerating its transition from traditional factor-driven growth to innovation-driven growth. Industrial upgrading and the replacement of old growth drivers with new ones are not a synchronized process; the pace of development naturally varies across sectors and over time. While the positive aspects of faster new-driver growth and the economy's shift toward innovation and quality should be recognized, it is also necessary to acknowledge that the handover of growth momentum will take time and that some areas face short-term difficulties.

The transition is reflected in three aspects. First, the 'newness' content is rising, with new industries providing stronger support. In 2025, the value added of the 'three new' economy—centered on new industries, new business formats, and new business models—accounted for 18.39% of GDP, rising year by year and cumulatively up 1.9 percentage points during the 14th Five-Year Plan period (2021-2025). In the first seven months of 2026, new growth drivers contributed 50.9% to the growth of industrial output above designated size, up 3 percentage points from the first half of the year. In July, the value-added growth of equipment manufacturing and high-tech manufacturing accelerated by 1.3 and 2.8 percentage points, respectively, from the previous month. In services, the information transmission, software and information technology services, and leasing and business services sectors contributed more than 40% to the growth of the services production index in the first seven months.

Second, the 'intelligence' content is rising, with artificial intelligence acting as an accelerator for the transition. On the production side, in July, the value added of AI-related electronic components and equipment manufacturing and smart equipment manufacturing grew by 24.7% and 15.1% year on year, respectively. Output of optical fiber and 3D printing equipment rose by 21.1% and 65.7%, respectively, while smart bracelet output doubled. On the consumption side, from January to July, retail sales of wearable smart devices above designated size more than doubled, and immersive, interactive consumption scenarios such as AI-guided tours and virtual fitting rooms are being rolled out faster. On the investment side, from January to July, investment in information services and electronic and communication equipment manufacturing grew by 19.2% and 7.1%, respectively.

Third, the 'green' content is rising, with green growth drivers being cultivated faster. In July, the value added of the bio-based materials manufacturing industry grew by 20.6% year on year. Increased demand for new-energy vehicles and new-type energy storage drove lithium-ion battery output up 58.8%. Output of hydroelectric generator sets and water pollution prevention and control equipment rose by 79.4% and 18.6%, respectively. In the first seven months, energy consumption per unit of value added in industrial enterprises above designated size fell by 3.5% year on year, indicating continued improvement in energy and resource efficiency and tangible progress in industrial energy-saving retrofits.