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Beijing sees added value of new economy up 7.5 pct on-yr in 2019

February 14, 2020


Abstract : The added value of new economy in Beijing rose 7.5 percent year on year to about 1.27 trillion yuan in 2019, according to data from Beijing Municipal Bureau of Statistics.

BEIJING, Feb. 14 (Xinhua) -- The added value of new economy in Beijing rose 7.5 percent year on year to about 1.27 trillion yuan in 2019, according to data from Beijing Municipal Bureau of Statistics.

Accounting for 36.1 percent of Beijing's GDP in 2019, emerging industries, new business formats and models are fueling the high-quality growth of Beijing's economy, reported Beijing Daily Friday.

Last year, the added value of high-tech manufacturing and strategic emerging industries in Beijing increased 9.3 percent and 5.5 percent year on year respectively, official data showed.

In 2019, the city saw a 26.3 year-on-year growth in the output of satellite navigation and positioning receivers, a 3.3 percent expansion in the production of smart TVs, and a 24.7 percent year-on-year increase in the output value of intelligent consumer equipment manufacturing industries such as smart vehicle equipment and wearable devices, according to the bureau.

"Culture+Internet", an epitome of the booming new business formats in Beijing, experienced vigorous development in 2019. Driven by the rapid growth of Internet information services, online culture and entertainment platforms as well as online advertising, Beijing's "culture+Internet" sector chalked up revenues of 487.85 billion yuan, showing a year-on-year increase of 22.1 percent, the statistics authority said.

Beijing kept innovating science and technology-related service models in 2019. Enterprises, particularly those in the high-tech demonstration zone Zhongguancun, have stepped up their research and development (R&D) efforts. The R&D expenditure of Zhongguancun-based enterprises rose 16.1 percent year on year in the first 11 months of last year, with technology-related revenue up 19 percent to 980.61 billion yuan, according to the bureau. (Edited by Su Dan)

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