China's “Three New” Economic Added Value Was Equivalent to 17.36 Percent of GDP in 2022
After accounting, the economic added value of China’s “Three New” in 2022 was 21,008.4 billion yuan, an increase of 6.5% over the previous year (without deducting price factors, the same below), 1.2 percentage points higher than the growth rate of Gross Domestic Product (GDP) in the same period at current prices; the proportion equivalent to GDP was 17.36 percent, an increase of 0.11 percentage point over the previous year.
Accounting Results of “Three New” Economic Added Value in 2022
|
Sector |
Value-Added (100 million yuan) |
Growth Rate at Current Price (%) |
Constitution (%) |
|
“Three New” Economy |
210084 |
6.5 |
100.0 |
|
Primary industry |
8457 |
6.9 |
4.0 |
|
Secondary industry |
92813 |
6.1 |
44.2 |
|
Tertiary industry |
108815 |
6.8 |
51.8 |
|
Note: Due to rounding off, the sum of itemized data may not equal to the total data in the above table. |
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Annotations:
I. Explanatory Notes
The “Three New” Economy is a collection of economic activities with new industries, new business formats, and new business models as the core content.
New industries refer to new economic activities of a certain scale formed by the application of new technological achievements and emerging technologies. It is specifically manifested as: new industries directly driven by the industrialization of new technology applications; new industries out from traditional industries supported by modern information technology; new industries derived from the differentiation, upgrading, and integration of industries promoted by the application of scientific and technological achievements and information technology.
New business formats refer to new links, new chains, and new activity forms derived from existing industries and fields by complying with diversified, pluralistic, and personalized product or service demands with the boost of technological innovation and application. It is specifically manifested as: business activities carried out based on the Internet; innovation in business processes, service models or product forms; availability of more flexible and efficient personalized services.
New business models refer to efficient and uniquely competitive business operation models by the integration and restructuring of various internal and external factors of enterprise operation to realize user value and achieve sustainable profit goals. It is specifically manifested as: integration of the Internet with industrial innovation; integration of hardware into services; availability of one-stop services for consumption, entertainment, leisure, and services.
The added value of the "Three New" Economy measures the added value created by all the permanent units of a country (or region) engaged in the "three new" economic production activities in a certain period of time.
II. Accounting Coverage and Classification
The accounting coverage of the added value of the “Three New” Economy is determined in accordance with the Statistical classification of New Industry, New Business Format and New Business Model (2018).
The classification on the three industries of the added value of the “Three New” Economy is formulated in accordance with the regulations issued by the National Bureau of Statistics of China in 2018 regarding the classification of the three industries. The primary industry of the “Three New” Economy refers to agriculture, forestry, animal husbandry and fishery (excluding agricultural, forestry, animal husbandry and fishery majors and auxiliary activities) with the “Three New” Economy characteristics; the secondary industry of the “Three New” Economy refers to mining industry (excluding mining major and auxiliary activities), manufacturing industry (excluding manufacture of metal products, the machinery and equipment repair industry), production and supply of electricity, thermal power, gas and water with the “Three New” Economy characteristics; and the tertiary industry of the “Three New” Economy refers to other industries (excluding international organizations) with the “Three New” economy characteristics, except the primary and secondary industries.
III. Accounting Methods and Data Sources
The added value of the "Three New" Economy is calculated from the production side, by using various kinds of methods to account, such as value-added rate and relevant index calculation with the data from the national economic census, the statistics data of the "Three New" Economy and the national economic accounting data.
VI. The Added Value of the “Three New” Economy is Equivalent to the Proportion of GDP
The added value of the “Three New” Economy is equivalent to the proportion of GDP and calculated with the calculation of the added value of the “Three New” Economy and preliminary accounting of GDP of that year.