BUSINESS Beijing's GDP up 6.3% in H1

BUSINESS

Beijing's GDP up 6.3% in H1

Xinhua

12:57, July 18, 2019

Beijing CBD. (Photo: China.org.cn)

The Chinese capital's GDP reached more than 1.52 trillion yuan (221 million U.S. dollars) in the first half of this year, up 6.3 percent year on year.

"Beijing's economy grew robustly with improved quality during the period," Pang Jiangqian, deputy director of the Beijing municipal statistics bureau, said at a press conference on Wednesday.

Total volume of consumption in the city reached more than 1.29 trillion yuan in H1, up 8.2 percent year on year.

Consumption in the service sector reached 728.25 billion yuan, contributing 70.4 percent to the city's total consumption growth.

Beijing's investment in fixed assets (excluding rural households) increased by 14.7 percent over the same period last year.

Investments in industries that are in line with the city's capital functions reported fast growth, with those in cultural, sports and entertainment industries up 95.1 percent year on year.

Meanwhile, Beijing's consumer price reported a moderate year-on-year growth of 1.9 percent in H1, with production price remaining generally stable.

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