The Value Added of the “Three New” Economy in 2025

In 2025, the value added of China’s “three new” economy was 25,786.9 billion yuan, up by 6.2% compared to the previous year (calculated at current prices), with a growth rate 2.2 percentage points higher than that of the gross domestic product (GDP) at current prices in the same period; its proportion in China’s GDP stood at 18.39%, up by 0.38 percentage points compared to the previous year.

Accounting Results of Value Added of the “Three New” Economy in 2025

Annotations:

1. Notes on Indicators

The “Three new” economy is a collection of economic activities with new industries, new business forms and new business models at their core.

New industries refer to new forms of economic activity that have developed on a certain scale through the application of new scientific and technological achievements and emerging technologies. Specifically, they include: first, new industries directly created through the industrial application of new technologies; second, new industries formed through the adoption of modern information technology by traditional industries; and third, new industries arising from the differentiation, upgrading and integration of existing industries, driven by the application and wider adoption of scientific and technological achievements and information technology.

New business forms refer to new segments, value chains and forms of activity that emerge from and build upon existing industries and fields, in response to increasingly diverse, differentiated and personalized demand for products and services and through technological innovation and application. Specifically, they include: first, business activities conducted through the Internet; second, innovations in business processes, service models or product forms; and third, the provision of more flexible, efficient and personalized services.

New business models refer to efficient and distinctively competitive models of business operation created by integrating and restructuring an enterprise’s internal and external resources, with a view to delivering value to customers and achieving sustainable profitability. Specifically, they include: first, integrating the Internet with industrial innovation; second, incorporating hardware into service offerings; and third, providing integrated one-stop solutions covering consumption, entertainment, leisure and other services.

The value added of the “three new” economy measures the value added by all resident units specializing in the production activities of the “three new” economy at a certain period in a country (or region).

2. Accounting scope and classification

The accounting scope of the value added of the “three new” economy is determined according to the Statistical Classification of New Industries, New Business Forms, and New Business Models (2018).

Three industries for the value added of the “three new” economy are classified on the basis of the Regulations on the Classification of the Three Industries enacted in 2018 by the NBS of China. The primary industry refers to agriculture, forestry, animal husbandry and fishery (excludingprofessional and support activities for agriculture, forestry, animal husbandry and fishery) with the characteristics of the “three new” economy; the secondary industry refers to mining (excludingprofessional and support activities for mining), manufacturing (excluding manufacture of metal products and repair service of metal products, machinery and equipment), production and supply of electricity, heat power, gas and water, and construction with the characteristics of the “three new” economy; the tertiary industry refers to all other industries (excluding international organizations) not included in the primary or secondary industries with the characteristics of the “three new” economy.

3. Accounting method and data source

The value added of the “three new” economy is calculated using data from the national economic census, statistics on the “three new” economy and national accounts. It is measured from the producer side using a range of methods, including the value-added ratio method and estimation based on relevant indicators.

4. Proportion of the value added of the “three new” economy in GDP

The proportion of the value added of the “three new” economy in GDP is calculated with the preliminary accounting results of the value added of the “three new” economy and GDP in the current year.