Beijing's GDP reached CNY2.06 trillion in the first half of the year, with a year-on-year growth of 5.5%, and authorities expect the upward trend to continue in the future. “Beijing will continue to make efforts to accelerate economic recovery and high-quality development,” Beijing Statistics Bureau Spokeswoman Zhu Yannan said at a news conference.
“The overall economic recovery and development of the city is showing a positive trend with improved efficiency.” The city government will maintain stable prices and keep increasing household incomes in order to achieve high-quality growth and new breakthroughs. The cumulative value of primary industries reached CNY4.13 billion in the first half, down 4.6% year-on-year, while that in secondary industries reached CNY286.64 billion, a 0.3% year-on-year decline. Sectors including auto manufacturing and power saw impressive growth during the first six months of the year. The automobile industry grew by 16.1% year-on-year, and the power sector increased by 10.9% year-on-year. The cumulative value of the service industry reached CNY1.77 trillion, up 6.6% year-on-year. At the beginning of 2023, the Beijing municipality announced an economic growth target of 4.5% for the year. The city has been encouraging the private economy by providing support to private enterprises and attracting foreign capital with better services.
Haidian district, the biggest contributor to Beijing’s GDP, is expecting to see its GDP growth exceed 6% year-on-year during the first half of this year, Li Junjie, the district’s head and Deputy Party Secretary, said. Last year, Haidian became the first prefecture-level district in the country to surpass the CNY1 trillion GDP threshold, driven by its scientific and technological innovations. Haidian’s 2022 GDP grew 3.5% year-on-year. The district reported that the total revenue of its high-tech enterprises reached CNY3.8 trillion in 2022, a year-on-year increase of 7.5%. The added value of core industries in the digital economy contributed over 50% of Beijing’s GDP. Last year, high-tech enterprises in Haidian spent CNY203.83 billion in scientific research and development (R&D), up 7.8% and representing 52.7% of the capital’s scientific R&D spending. Beijing’s GDP exceeded CNY3 trillion for the first time in 2018 and reached CNY4 trillion in 2021, the China Daily reports.
Other provinces also reported their first-half GDP growth figures: Henan (3.8%); Guangdong (5%); Jiangsu (6.6%); Zhejiang (6.8%); Shandong (6.2%) and Sichuan (5.5%).
