Main­tain­ing a Steady Econ­omy

Beijing (English) - - CONTENTS - Trans­lated by Zhou Fu­jing Edited by Mark Zuiderveld

In 2017, the econ­omy main­tained ro­bust de­vel­op­ment momentum, char­ac­terised by sta­ble growth, op­ti­mised struc­ture, im­proved liveli­hood and bet­ter qual­ity.

In 2017, Bei­jing Mu­nic­i­pal­ity ad­hered to a prin­ci­ple of “mak­ing progress while main­tain­ing sta­bil­ity” to fo­cus on the city’s ori­en­ta­tion and deepen reform on the sup­ply side. The econ­omy has main­tained ro­bust momentum char­ac­terised by sta­ble growth, op­ti­mised struc­ture, im­proved liveli­hood and bet­ter qual­ity.

Ac­cord­ing to statis­tics, the mu­nic­i­pal­ity’s gross do­mes­tic prod­uct (GDP) to­talled 2.80 tril­lion yuan in 2017, an in­crease of 6.7 per­cent over 2016 based on com­pa­ra­ble prices. The growth rate was 0.1 per­cent­age lower than the pre­vi­ous year. The pri­mary in­dus­try, sec­ondary in­dus­try and the ter­tiary in­dus­try gen­er­ated added val­ues of 12.05 bil­lion yuan, 531.06 bil­lion yuan and 2.26 tril­lion yuan re­spec­tively, down 6.2 per­cent, up 4.6 per­cent and up 7.3 per­cent com­pared to the pre­vi­ous year.

The new econ­omy re­alised an added value of 908.56 bil­lion yuan, up 9.8 per­cent based on com­pa­ra­ble prices, ac­count­ing for 32.4 per­cent of the mu­nic­i­pal­ity’s econ­omy. Added value for high-tech in­dus­try and strate­gic emerg­ing in­dus­try were 638.73 bil­lion yuan and 453.13 bil­lion yuan, up 9.5 per­cent and 10.6 per­cent (the two over­lap).

Steady De­vel­op­ment for Eco and Ur­ban Agri­cul­ture

In 2017, Bei­jing con­tin­ued to ad­just the struc­ture of agri­cul­ture. Tra­di­tional agri­cul­ture con­tin­ued to shrink and the grain-sown area de­creased by 23.5 per­cent over 2016. The num­ber of slaugh­tered hogs, milk out­put, and the out­put of poul­try and eggs dropped by 12.1 per­cent, 18.1 per­cent and 14.4 per­cent, re­spec­tively.

Agri­cul­ture’s func­tion to im­prove ecol­ogy was strength­ened and ur­ban and mod­ern agri­cul­ture achieved steady growth. The out­put value of the mu­nic­i­pal­ity’s forestry in­dus­try in­creased by 12.7 per­cent over the pre­vi­ous year. To­tal in­come of the mu­nic­i­pal­ity’s agri­cul­tural sight­see­ing gar­dens was 2.99 bil­lion yuan, up 6.9 per­cent over pre­vi­ous year. Agri­cul­tural ex­hi­bi­tions and agri­cul­tural-re­lated cel­e­bra­tions and ac­tiv­i­ties re­ceived 4.51 mil­lion tourists, gen­er­at­ing an in­come of 250 mil­lion yuan.

Sta­ble Growth Momentum, Higher Ef­fi­ciency in Sec­ondary In­dus­try

Through­out the year, the mu­nic­i­pal­ity’s to­tal added value of in­dus­trial en­ter­prises above a des­ig­nated size rose by 5.6 per­cent com­pared with the pre­vi­ous year based on com­pa­ra­ble prices, and the growth rate was 0.5 per­cent­age higher than the pre­vi­ous year. The added value of high-tech man­u­fac­tur­ing in­dus­try and emerg­ing strate­gic in­dus­try (the two over­lap) rose by 13.6 per­cent and 12.1 per­cent, re­spec­tively. Of the key sec­tors, the added value for phar­ma­ceu­ti­cal man­u­fac­tur­ing in­creased by

18.8 per­cent, that for com­put­ers, com­mu­ni­ca­tions and other elec­tronic equip­ment man­u­fac­tur­ing grew by 10.8 per­cent, and that for elec­tric­ity, heat­ing pro­duc­tion and sup­ply in­dus­try rose by 9.3 per­cent, while au­to­mo­tive man­u­fac­tur­ing de­creased by 2.9 per­cent.

From Jan­uary to Novem­ber, to­tal profit cre­ated by en­ter­prises above a des­ig­nated size was 175.38 bil­lion yuan, up 28.9 per­cent year-on-year and the growth rate was 23.2 per­cent­age higher than the same pe­riod of the pre­vi­ous year; over­all labour pro­duc­tiv­ity was 397,000 yuan per per­son, an in­crease of 32,000 yuan per per­son over the same pe­riod of the pre­vi­ous year.

Mild Trend for Ter­tiary In­dus­try

In 2017, the added value of the mu­nic­i­pal­ity’s ter­tiary in­dus­try in­creased by 7.3 per­cent over the pre­vi­ous year and the growth rate was 0.3 per­cent higher than the pre­vi­ous year. Of this, the financial, sci­ence and tech­nol­ogy ser­vices, in­for­ma­tion ser­vices and other com­pet­i­tive sec­tors ac­counted for 53.3 per­cent of the mu­nic­i­pal­ity’s to­tal eco­nomic growth. The added value for the financial sec­tor was 463.45 bil­lion yuan, up 7 per­cent; the added value for sci­en­tific re­search and tech­nol­ogy ser­vices in­creased to 285.92 bil­lion yuan, up 10.7 per­cent and the added value for in­for­ma­tion trans­mis­sion, soft­ware and in­for­ma­tion tech­nol­ogy ser­vices in­creased to 316.9 bil­lion yuan, up 12.6 per­cent.

In the dis­tri­bu­tion field, the added value for the trans­port, postal and ware­hous­ing in­dus­try in­creased by 12.1 per­cent; in the pub­lic ser­vice in­dus­try, the added value for water con­ser­vancy, en­vi­ron­ment and pub­lic fa­cil­ity man­age­ment in­creased by 12.1 per­cent, and ed­u­ca­tion grew by 8.3 per­cent.

Growth in In­vest­ment

In 2017, Bei­jing’s to­tal in­vest­ment in fixed as­sets was 894.81 bil­lion yuan, an in­crease of 5.7 per­cent over the pre­vi­ous year. In­vest­ments in in­fra­struc­ture, such as trans­porta­tion, en­ergy, water, green­ing and other projects, amounted to 298.42 bil­lion yuan, up 24.4 per­cent, ac­count­ing for 33.4 per­cent of the to­tal in­vest­ment in fixed as­sets. The in­vest­ment in real es­tate de­vel­op­ment was 374.59 bil­lion yuan, down 7.4 per­cent.

Look­ing at the in­dus­tries sep­a­rately, pri­mary in­dus­try com­pleted in­vest­ment of 9.59 bil­lion yuan, down 3.9 per­cent; sec­ondary in­dus­try com­pleted in­vest­ment of 89.38 bil­lion yuan, up 23.6 per­cent; and ter­tiary in­dus­try (in­clud­ing real es­tate de­vel­op­ment) com­pleted in­vest­ment of 795.84 bil­lion yuan, up 4.2 per­cent. In­vest­ments in the rental and busi­ness ser­vice in­dus­try, in­for­ma­tion trans­mis­sion, soft­ware and high-tech ser­vice in­dus­try and tourism in­creased by 1.2 fold, 42.8 per­cent and 23.8 per­cent, re­spec­tively.

By the end of 2017, the con­struc­tion area of the mu­nic­i­pal­ity’s com­mer­cial hous­ing to­talled 126.09 mil­lion square me­tres (sq.m), down 3.7 per­cent from the pre­vi­ous year. About 55.07 mil­lion sq.m were for res­i­den­tial hous­ing, down 7.1 per­cent. The to­tal sales area of com­mer­cial hous­ing was 8.75 mil­lion sq.m, down 47.8 per­cent, for which the sales area of res­i­den­tial hous­ing ac­counted for 6.13 mil­lion sq.m, down 38.3 per­cent.

Steady progress was also made in gov­ern­ment-sub­sidised hous­ing. By the end of 2017, its con­struc­tion area was 42.78 mil­lion sq.m, ac­count­ing for 33.9 per­cent of the to­tal area of city’s newly- con­structed com­mer­cial hous­ing, up 3.7 per­cent from the pre­vi­ous year. Its sales area was 2.67 mil­lion sq.m, ac­count­ing for 30.5 per­cent of the to­tal sales area of the city’s newly-built com­mer­cial hous­ing, up 12.6 per­cent over the pre­vi­ous year.

Steady Growth in Mar­ket Con­sump­tion

In 2017, the mu­nic­i­pal­ity’s to­tal mar­ket con­sump­tion amount was 2.38 tril­lion yuan, up 8.5 per­cent com­pared with the pre­vi­ous year. The ser­vice con­sump­tion amount was about 1.22 tril­lion yuan, up 11.8 per­cent. It ac­counted for 51.3 per­cent of the to­tal con­sump­tion amount and con­trib­uted to 69.4 per­cent of to­tal con­sump­tion growth.

The to­tal re­tail sales of so­cial con­sumer goods was about 1.16 tril­lion yuan, up 5.2 per­cent. Of this amount, above-norm re­tail and whole­sale en­ter­prises gen­er­ated to­tal re­tail sales of 237.14 bil­lion yuan through on­line sales, up 10.9 per­cent. Based on con­sump­tion pat­terns, re­tail sales of com­modi­ties gained about 1.05 tril­lion yuan, up 4.9 per­cent; the in­come of the cater­ing in­dus­try was 102.88 bil­lion yuan, up 7.7 per­cent. Re­tail sales for house­hold ap­pli­ances and au­dio­vi­sual equip­ment, cul­tural and of­fice sup­plies and newen­ergy ve­hi­cles rose by 18.1 per­cent, 16.4 per­cent and 15.3 per­cent, re­spec­tively.

Sta­ble Trend in Con­sump­tion Prices, Ris­ing Pro­duc­tion Prices

In 2017, the mu­nic­i­pal­ity’s con­sumer prices in­creased by 1.9 per­cent com­pared with 2016. Prices for con­sumer goods re­mained un­changed while those for ser­vices rose by 4.7 per­cent.

Prices for seven of the eight main cat­e­gories of con­sump­tion com­modi­ties rose. Among them, prices for food, liquor and to­bacco rose by 0.5 per­cent, prices for hous­ing rose by 3.8 per­cent, prices for daily sup­plies and ser­vice-re­lated items rose by 0.6 per­cent, those for trans­port and com­mu­ni­ca­tions rose by 0.3 per­cent, prices for ed­u­ca­tion, cul­ture and entertainment rose by 2.3 per­cent and those for health care and other ser­vice items rose by 7.4 per­cent and 2.7 per­cent, re­spec­tively. How­ever, the price of cloth­ing de­creased by 2.2 per­cent. In De­cem­ber, the mu­nic­i­pal­ity’s gen­eral con­sumer price rose 2.2 per­cent year on year, an in­crease of 0.5 per­cent from the pre­vi­ous month.

The mu­nic­i­pal­ity’s in­dus­trial pro­duc­tion price and pur­chas­ing price saw a growth of 0.7 per­cent and 4.4 per­cent over the pre­vi­ous year. In De­cem­ber, the year-onyear growth of the in­dus­trial pro­duc­tion price and pur­chas­ing price were 0.1 per­cent and 1.9 per­cent, with both up 0.3 per­cent month-on-month, re­spec­tively.

Faster Growth in Res­i­den­tial In­come

In 2017, the mu­nic­i­pal­ity’s av­er­age per­capita dis­pos­able in­come was 57,230 yuan, an in­crease of 8.9 per­cent over 2016; how­ever, the ac­tual growth was 6.9 per­cent af­ter de­duct­ing price fac­tors. Based on lo­ca­tion of res­i­dence, the av­er­age per capita dis­pos­able in­come of ur­ban res­i­dents was 62,406 yuan, up 9.0 per­cent, and the dis­pos­able in­come of ru­ral res­i­dents was 24,240 yuan, up 8.7 per­cent; the ac­tual growth was 7 per­cent and 6.7 per­cent for ur­ban and ru­ral res­i­dents af­ter de­duct­ing price fac­tors.

Per­ma­nent Pop­u­la­tion Drops

At the end of 2017, Bei­jing had a per­ma­nent pop­u­la­tion of 21.707 mil­lion, a de­crease of 22,000, or down 0.1 per­cent from the end of 2016. The per­ma­nent pop­u­la­tion aged 0–14 was 2.264 mil­lion, ac­count­ing for 10.4 per­cent of the to­tal; the per­ma­nent pop­u­la­tion of those aged 15–59 was 15.861 mil­lion, ac­count­ing for 73.1 per­cent; and the per­ma­nent pop­u­la­tion aged above 60 was 3.582 mil­lion, ac­count­ing for 16.5 per­cent.

Based on lo­ca­tion of res­i­dence, the per­ma­nent ur­ban pop­u­la­tion was 18.766 mil­lion, ac­count­ing for 86.5 per­cent of the mu­nic­i­pal­ity’s to­tal per­ma­nent pop­u­la­tion; and the per­ma­nent ru­ral pop­u­la­tion was 2.94 mil­lion.

The mu­nic­i­pal­ity saw over­all sta­ble eco­nomic op­er­a­tion in 2017. In 2018, it will con­tinue to pro­mote sup­ply-side struc­tural reform and re­alise high-end eco­nomic de­vel­op­ment.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.