On October 21, the Beijing Municipal Bureau of Statistics released data indicating that in the first three quarters of this year, Beijing achieved a gross regional product (GRP) of 33,462 billion yuan (RMB), reflecting a year-on-year growth of 5.1% when adjusted for constant prices.
Breaking it down by sector, the first industry in Beijing reported a value added of 7.15 billion yuan, which is a decline of 0.4%. The second industry, however, saw a value added of 4,757.9 billion yuan, marking a growth of 5.2%. The third industry contributed significantly with a value added of 28,632.5 billion yuan, also growing by 5.1%.
A representative from the Beijing Municipal Bureau of Statistics noted that the service sector has shown steady performance over the first three quarters, driven by strong performance in several key industries. For instance, the information transmission, software, and information technology services sector recorded a value added of 7,104.9 billion yuan, an impressive increase of 11.9%. The financial sector followed with a value added of 6,719.8 billion yuan, growing by 6.6%. Additionally, the leasing and business services industry added 1,933.9 billion yuan, up by 5.0%, while the transportation, warehousing, and postal sectors achieved a value added of 885.2 billion yuan, growing by 10.0%.
In terms of fixed asset investment, Beijing has seen rapid growth, particularly in equipment upgrades. The fixed asset investment (excluding rural households) grew by 7.8% in the first three quarters. Notably, investments in equipment purchase surged by 34.1%, fueled by large-scale equipment renewal policies, particularly benefiting the manufacturing sectors of computers, communications, and other electronic devices.
Further data shows that the added value of Beijing’s digital economy rose by 7.6%, with core industries achieving a growth of 10.4% (at current prices). Major high-tech manufacturing industries and strategic emerging industries in the industrial sector contributed to this growth, with added values increasing by 8.3% and 14.0%, respectively. Significant growth was also noted in the production of integrated circuits, wind turbine units, and industrial robots, all exceeding 10% in output growth. Investment in high-tech industries remains robust, with high-tech manufacturing and high-tech services seeing an increase of 66.7% and 28.9%, respectively.
