Press Release

Beijing Maintained Stable and High-quality Economic Development in 2018

  Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, Beijing upheld the underlying principle of pursing progress while ensuring stability, firmly established a new concept of development, adhered to the main line of supply-side structural reform, focused on the strategic positioning for capital city, kept improving the quality of development, and maintained a stable and high-quality economic development in 2018.

 

  According to preliminary calculation, the city’s GDP totaled RMB 3.032 trillion, increasing by 6.6% over the previous year based on comparable price. By industries, the value added of the Primary Industry was RMB 11.87 billion, down by 2.3%; the value added of the Secondary Industry was RMB 564.77 billion, up by 4.2%; the value added of the Tertiary Industry was RMB 2.45536 trillion, up by 7.3%.

 

  The added value of new economy for the whole year reached up to RMB 1.00574 trillion, with a rise of 9.3% based on current price, which accounted for 33.2% of the whole city’s GDP, with an increase of 0.4 percentage points over that in the previous year. Of which, the value added of the high technology industry was RMB 697.68 billion, increasing by 9.4%; the value added of the strategic emerging industry was RMB 489.34 billion, increasing by 9.2% (there were overlaps between the two).

 

Accumulative Growth Rates of GDP since 2016 (%)

 

  1. Agriculture continued to transform and upgrade, and urban agriculture developed steadily.

 

  In 2018, the whole city further promoted the structure adjustment and mode transformation of agricultural development. With the further contraction of traditional agriculture, the ecological function of agriculture was continuously strengthened. In 2018, the realized gross output value of agriculture, forestry, animal husbandry and fishery reached RMB 29.68 billion, down by 3.7% from the previous year; of which, the forestry output value increased by 61.7% year-on-year, driven by the new round of million mu afforestation project, accounting for 32.1% of the gross output value of agriculture, forestry, animal husbandry and fishery, increasing by 13 percentage points from the previous year.

 

  At the same time, urban modern agriculture developed steadily; the revenue from sightseeing garden and folk tour totaled RMB 2.73 billion and RMB 1.3 billion respectively. The benefit of facility agriculture was improved; the average benefit reached RMB 25,000 / mu, increasing by 2.2% from the previous year.

 

  2. Industrial production grew steadily, and production efficiency improved steadily.

 

  In 2018, the added value of industrial enterprises above designated size in the city rose by 4.6% over the previous year based on comparable price. Of which, the added value of hi-tech manufacturing and strategic emerging industries (there were overlaps between the two) rose by 13.9% and 7.8% respectively. In key industries, the added value of manufacture of medicines increased by 16.2%, that of manufacture of computer, communication and equipment and other electronic equipment increased by 15.2%, that of production and supply of electric and heating power increased by 12.2%, and that of automobile manufacture decreased by 5.8%.

 

  The efficiency of industrial output and the efficiency of the energy utilization continued to improve. From January to November, the overall labor productivity of industrial enterprises above designated size was RMB 448,000 / person, increasing by RMB 50,000 / person year-on-year; in 2018, the energy consumption per unit of added value of industrial enterprises above designated size decreased by 2.5% year on year.

 

Accumulative Growth Rates of Added Value of Industrial Enterprises above Designated Size since 2017 (%)

 

  3. The Tertiary Industry kept a good momentum of steady growth and advantaged sectors played a leading role.

 

  In 2018, the added value of the Tertiary Industry in the city increased by 7.3% over the previous year, 0.7 percentage points higher than the GDP growth rate of the city, contributing 87.9% to the economic growth. Of which, the advantaged sectors, such as finance, technology services, information services, etc., accounted for 40.1% in the GDP of the city, increasing by 1.8 percentage points over the previous year; the contribution totaled 67%, increasing by 12.9 percentage points over the previous year. The financial sector achieved an added value of RMB 508.46 billion, increasing by 7.2%; the sectors of information transmission, software and information technology services realized an added value of RMB 385.9 billion, increasing by 19%; the sector of scientific research and technical services realized an added value of RMB 322.39 billion, increasing by 10.4%.

 

  From January to November, enterprises in the Tertiary Industry  above designated size realized total profit of RMB 2.1 trillion, increasing by 4.5% year-on-year, with a growth rate 0.7 percentage points higher over the same period last year.

  

Growth Rates of Added Value of the Tertiary Industry since 2016 (%) 

 

  

  4. Investment structure continued to be optimized, steady progress was made in the construction of security housing.

 

  In 2018, the total investment in fixed assets of Beijing declined by 9.9% over the previous year. By field of investment, the investment in infrastructures fell by 10.7% year-on-year. Specifically, the investment in the sector of transportation grew by 1.1%; and the investment in real estate development grew by 3.4%; of which, the investment in security housing grew by 44.1%, accounting for 31.7% of the investment in real estate development, increasing by 9 percentage points year-on-year.

 

  By sectors, the investment in the Primary Industry grew by 8.9%; that in the Secondary Industry declined by 43.2%; the investment in the Tertiary Industry dropped by 6.3%, of which, investment in sectors in line with the capital’s development direction grew rapidly, the investment in the sectors of information transmission, software and information technology services grew by 31.2%, the investment in the sector of culture, sports and entertainment grew by 11.8%, and the investment in the sector of scientific research and technology services grew by 7.7%.

 

Accumulative Growth Rates of Total Investment in Fixed Assets since 2017 (%) 

 

  

  In 2018, the area of newly constructed commercial housing of the city reached 23.211 million square meters, decreasing by 6.2% over the previous year; of which, the area of newly built commercial residential buildings amounted to 12.336 million square meters, increasing by 0.6%. Area of sold commercial housing amounted to 6.962 million square meters, decreasing by 20.4%. Of which, area of sold commercial residential buildings amounted to 5.268 million square meters, declining by 14%.

 

  Steady progress was made in the construction of security housing. The area of newly constructed security housing of the city reached 10.492 million square meters, accounting for 45.2% of the area of newly constructed commercial housing of the city, increasing by 3.9 percentage points over the previous year. The sales area of security housing of the city amounted to 2.217 million square meters, accounting for 31.8% of the sales area of the city’s newly constructed commercial housing, up by 1.3 percentage points over the previous year.

 

  5. Market consumption showed good growth trend, the contribution of service consumption exceeded 80%.

 

  In 2018, the total market consumption in the city hit RMB 2.54059 trillion, up by 7.4% over the previous year. Of which, service consumption achieved RMB 1.36582 trillion, up by 11.8%, accounting for 53.8% of total market consumption and contributing 82.6% to the total consumption growth; the consumption of transportation and communication, education, culture and entertainment services increased by 12.3% and 12.2% respectively.

 

  Total retail sales of consumer goods in the whole year amounted to RMB 1.17477 trillion, up by 2.7% over the previous year; of which, the on-line retail volume of wholesaling and retailing enterprises above designated size reached RMB 263.29 billion, up by 10.3% and driving the whole city’s growth of retail sales of the city by 2.1 percentage points. By consumption pattern, income from retail sales of goods was RMB 1.06485 trillion, up by 2.2%; income from catering was RMB 110.21 billion, up by 7.3%. By commodity category, the retail sales of jewelry, household appliances and audio-visual equipment, and cosmetics of wholesale and retail enterprises above designated size respectively increased by 23.8%, 13.6% and 11.8%.

  

Accumulative Growth Rates of

Total Retail Sales of Consumer Goods since 2017 (%)

 

  6. Consumer Price Index (CPI) showed moderate rise and the Producer Price Index (PPI) was generally stable.

 

  In 2018, CPI in the city increased by 2.5% over the previous year. In specific, the price of consumer goods rose by 1.8% and that of service items went up by 3.5%. In eight categories of commodities and service items, “the prices increased for seven while dropped for one”. The price of food, tobacco & alcohol grew by 3.1%; price of housing grew by 3.2%; price of household goods & services grew by 1.3%; price of transportation & communication grew by 0.6%; price of education, culture & entertainment grew by 3.6%, price of healthcare grew by 3%; price of other supplies & services grew by 2.2%; price of clothing fell by 0.3%. In December, the CPI of the city increased by 2% year-on-year and 0.1% month-on-month.

 

Monthly Year-on-year Increase/Decrease Rate of CPI since 2017 (%)

 

  

  In 2018, PPI of the city remained the same as the precious year and Industrial Production Index (IPI) increased by 0.8% over the previous year. In December, PPI decreased by 0.5% year-on year-and 0.3% month-on-month. IPI increased by 0.9% year-on-year and remained the same month-on-month.

  

Monthly Year-on-year Increase/Decrease Rate of PPI and IPI since 2017 (%)

 

  7. Resident income increased steadily, basically in step with economic growth.

 

  In 2018, the per capita disposable income of residents in the city was RMB 62,361, up by 9% over the previous year and up by 6.3% in real terms on inflation-adjusted basis, basically in step with economic growth.

 

  8. Permanent population was stable with a slight decline.

 

  At the end of 2018, the permanent population of the city was 21.542million, decreasing by 0.8% over that at the end of last year.

 

  From the age composition, the permanent population at 0-14 years old was 2.266 million, accounting for 10.5% of the city’s total permanent population; the permanent population at 15-59 years old was 15.628 million, accounting for 72.6% of the city’s total permanent population; the permanent population at 60 years old and above was 3.648 million, accounting for 16.9% of the city’s total permanent population.

 

  From the urban and rural structure, the urban population was 18.634 million and the rural population was 2.908 million; the urban population accounted for 86.5% of the total permanent population.

  

  On the whole, the city witnessed stable and high-quality economic development in 2018. 2019 is not only the 70th anniversary of the founding of the PRC, but also the crucial year for achieving decisive victory in building a moderately well-off society in an all-round way, for implementing the “13th Five-Year Plan” and for through realizing the new overall urban planning. We will continue to uphold the underlying principle of pursing progress while ensuring stability, adhere to the new concept of development, adhere to the main line of supply-side structural reform, as well as bring success to ensuring steady growth, advancing reform, making structural adjustments, improving living standards, guarding against risks and maintaining stability through comprehensive planning and coordination, so as to continue high-quality economic development.