China's New Economy Momentum Index Hits 153.0 in 2025, High-Tech Manufacturing Up 9.4%

In 2025, China's economic development new momentum index stood at 153.0, up 12.5% year on year. Data from the National Bureau of Statistics show that sub-indices for industrial transformation and upgrading, innovation-driven development, the digital economy, and economic vitality all recorded positive growth, with transformation and innovation contributing notably to the overall increase.

Regarding transformation and upgrading, the index for economic transformation and upgrading reached 156.8 in 2025, up 22.7% year on year, contributing 34.1% to the overall index growth. Estimates indicate that value added in strategic emerging industries maintained rapid growth. Value added in high-technology manufacturing rose 9.4% year on year, 3.5 percentage points faster than the growth in value added of industries above a designated size, and its share in that total increased to 17.1%. Value added in digital product manufacturing grew 9.3%, accounting for 12.5% of industrial value added. The share of non-fossil energy in total energy consumption rose by about 2 percentage points from the previous year. Exports of the "new three" products—electric vehicles, photovoltaic products, and lithium batteries—approached RMB 1.3 trillion, up 27.1% year on year, including 3.93 million electric vehicles exported, an increase of 73.1%.

The innovation-driven development index was 156.3, up 12.9% year on year, contributing 31.4% to the overall index growth. In 2025, national spending on research and experimental development reached RMB 3.9 trillion, up 8.1% year on year, equivalent to 2.80% of gross domestic product. Basic research funding totaled RMB 277.8 billion, up 11.1%, accounting for 7.08% of total R&D spending. The cumulative number of nationally recognized specialized and innovative "little giant" enterprises reached 17,600. High-value invention patents per 10,000 people stood at 16, up 2 from the previous year. The value of contracted technology transactions reached RMB 7.6 trillion, up 10.8%.

In terms of the digital economy and economic vitality, the economic vitality index was 137.2 in 2025, up 4.8% year on year. A total of 25.74 million new business entities were registered during the year, with an average of 26,000 new enterprises per day, up 2,000 from the previous year. The number of active operating enterprises grew 9.8%, and their share of all enterprises rose by 4.7 percentage points. Investment in high-technology services maintained rapid growth, with investment in information services up 28.4%. Express delivery volume reached 198.95 billion parcels for the year, with revenue of RMB 1.4939 trillion.