The new kinetic energy index 270.3 increased by 28.7% last year.

New momentum with new industries, new formats and new modes as its main content is gathering rapidly, economic vitality is effectively released, new momentum is growing continuously, and has become an important force to support China's economic development towards high-quality development.

The data released by the National Bureau of Statistics on July 31 show that China's economic development is new from 2015 to 2018. The kinetic energy indices were 123.5, 156.7, 210.1 and 270.3, respectively, which were 23.5%, 26.9%, 34.1% and 28.7% higher than the previous year, maintaining a relatively rapid growth momentum.

"The data show that the new momentum with new industries, new formats and new models as its main content is rapidly gathering, the economic vitality is effectively released, and the new momentum is continuously developing and growing, which has become an important force to support China's economy towards high-quality development." Lu Haiqi, director of the Institute of Statistical Science of the National Bureau of Statistics, said.

In 2018, the network economy index reached 605.4, which increased by 67.2% compared with the previous year, and contributed 80.8% to the growth of the new kinetic energy index of economic development, with the largest contribution. The economic vitality index was 292.0, an increase of 2.7% over the previous year. The knowledge capability index was 135.9, an increase of 5.8% over the previous year. The innovation-driven index was 174.4, up 21.8% from the previous year. The index of transformation and upgrading was 143.9, an increase of 8.8% over the previous year.

Digital economy construction, represented by network economy, has been making sustained efforts and has become an important force for the development and expansion of new momentum. At the end of 2018, the number of mobile Internet users reached 1.4 billion, an increase of 9.9% over the previous year; the mobile Internet access traffic reached 71.11 billion GB, an increase of 19 times over the previous year; and the fixed Internet broadband access users reached 407 million, an increase of 16.9% over the previous year. With the rapid development of the Internet, especially mobile terminals, new retail models and formats are flourishing, online and offline integration is deepened, network consumption scale is expanding, structure is optimized, and new consumption momentum is accelerating. With the continuous advancement of a series of reform measures, such as tax reduction and fee reduction, and "release of uniforms", enterprises have more room for innovation and entrepreneurship, and economic vitality has been released.

Improving the proportion of skilled personnel, accelerating the cohesion of knowledge and ability, and forming human capital are the inexhaustible power and important guarantee to promote the continuation and transformation of new and old kinetic energy. In 2018, the proportion of the highly educated and highly skilled population in China continued to increase, with the proportion of the economically active population with master's degree or above being 0.85%, 0.07 percentage points higher than that of the previous year, and the proportion of professional and technical personnel in the employees of "four-up" enterprises being 14.0%, 0.7 percentage points higher than that of the total in 2014.

The vigorous surge of new momentum can not be separated from the drive of innovation and development strategy. "The business incubator has been developing to a higher level and higher quality. The business incubator of science and technology enterprises has become an important carrier to cultivate small and medium-sized enterprises of science and technology, especially strategic emerging industries." Lu Haiqi introduced that the cumulative number of graduated enterprises of national science and technology business incubators increased from 111,000 in 2017 to 139,000 in 2018, an increase of 25.9%, an increase of 2.5 percentage points over the previous year.

Structural reform on the supply side has been steadily promoted, which has also accelerated the transformation of new and old kinetic energy. In 2018, the added value of strategic emerging industries in industry increased by 8.9%, 2.7 percentage points faster than that in industry. The added value of high-tech manufacturing industry increased by 11.7% over the previous year. The pace of high-end industry has accelerated significantly.