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Xinhua Silk Road
Local

Beijing's economic recovery picks up steam in Q1-Q3

October 22, 2020


Abstract : Beijing's economic recovery picked up steam in the first three quarters amid effective control of the COVID-19 and the government's efforts to spur the economy, official data showed Wednesday.

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A staff member picks up goods for online orders at a store of Hema Fresh in Beijing, capital of China, Feb. 14, 2020. (Xinhua/Ju Huanzong)

BEIJING, Oct. 22 (Xinhua) -- Beijing's economic recovery picked up steam in the first three quarters amid effective control of the COVID-19 and the government's efforts to spur the economy, official data showed Wednesday.

The gross domestic product (GDP) of Beijing totaled 2.576 trillion yuan in the first three quarters, up 0.1 percent year on year, according to data from Beijing municipal bureau of statistics.

During the January-September period, the added value of Beijing's primary industry was 7.25 billion yuan, down 11.0 percent year on year.

Positive growth was seen in key industries. During the period, the added value of computer, communication and electronic equipment manufacturing industry increased 16.9 percent year on year, while the added value of automobile manufacturing industry rose 2.5 percent year on year, returning to growth after a 3.2 percent-contraction in the first half of the year.

High-end industries continued to show vitality. The added value of high-tech manufacturing industry went up 5.3 percent year on year in the first nine months and that of the strategic emerging industries increased 4.7 percent year on year.

The tertiary industry of Beijing steadily firmed up in the first three quarters, with its added value growing by 0.1 percent to 2.177 trillion yuan.

Specifically, during the period, the added value of information transmission, software and information technology service industry arrived at 397.01 billion yuan, up 12.9 percent year on year, while that of the financial sector rose 7.0 percent year on year to 524.45 billion yuan. The two industries, accounting for 35.8 percent of Beijing's GDP in the first nine months, have played an important role in sustaining the city's economy.

Beijing's fixed-asset investment went up 1.8 percent year on year in the first three quarters with improved investment structure. Of the total, investment in high-tech services grew 22.3 percent year on year, while investment in education, and health increased 43.4 percent and 28.2 percent respectively.

Consumption in the capital city continued to recover. In the first three quarters, the city's total consumption decreased 10.3 percent year on year, narrowing the decline by 2.7 percentage points from the first half of the year.

Beijing's online retail sales was flouring during the period, with the online retail sales of beverage, communication equipment, sports and entertainment products, foodstuff and household appliance, as well as audio-video equipment going up by 44.8 percent, 33.6 percent, 18.0 percent, 8.2 percent and 3.5 percent, respectively. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)

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Keyword: economic recovery Beijing GDP

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