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Steady Economic Recovery Seen with Good Prospects in Beijing in the First Half of 2021

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日期:2021-07-26 17:10    来源:Beijing Municipal Bureau of Statistics

In the first half of the year, under the strong leadership of the CPC Municipal Committee and the Municipal Government, the whole city continued scientifically coordinated endeavor in containing and fighting COVID-19 and in economic and social development, effectively implemented various policies and made solid progress in all work. Steady recovery has been seen in the economy as a whole, the people’s basic living needs have been well guaranteed, and the quality of development has been continuously improved.


According to the unified calculation results on GDP, Beijing’s GDP in the first half of this year totaled RMB 1.9228 trillion, up by 13.4% year on year based on comparable price, being 3.7 percentage points lower than that in Q1; comparing with the same period of 2019, the two-year average growth rate was 4.8%, being 0.2 percentage points higher than that in Q1. By industries, the value added of the Primary Industry was RMB 4.04 billion, up by 1.9% year on year, with the two-year average decline rate of 10.2%; the value added of the Secondary Industry was RMB 329.32 billion, up by 32.5% year on year, with the two-year average growth rate of 12.7%; the value added of the Tertiary Industry was RMB 1.58944 trillion, up by 10.1% year on year, with the two-year average growth rate of 3.3%.


1. Agricultural production was generally stable, leisure agriculture and rural tourism were well on the way to gradual recovery


In the first half of this year, the realized gross output value of agriculture, forestry, animal production and hunting, fishing in Beijing reached RMB 9.76 billion, up by 0.8% year on year based on comparable price, with the two-year average decline rate of 12.3%; of which, driven by the increased grain and vegetable production, the output value of agriculture (planting industry) increased by 21.8% year on year, with the two-year growth rate being turned from showing a decrease into showing an increase by 4.6%; continuous recovery was seen in pig production, the number of slaughtered pigs and the pig stock increased by 1.2 times and 54.5% respectively. Leisure agriculture and rural tourism continued to recover, the number of tourists received recovered to 66.1% of the same period of 2019, being 2.3 percentage points higher than that in Q1, and the realized income recovered to nearly 90% of the same period of 2019.


2. Industrial production gradually picked up speed and high-end industries led the development


In the first half of this year, the value added of industrial enterprises above designated size in Beijing increased by 41.4% year on year based on comparable price, with the two-year average growth rate of 16.7%, which were respectively 3.0 percentage points and 8.0 percentage points higher than that in Q1. In key sectors, the value added of pharmaceutical manufacturing industry increased by 2.9 times year on year, with the two-year average growth rate of 94.2%; that of the sector of computer, communication equipment and other electronic equipment manufacturing increased by 25.7% year on year, with the two-year average growth rate of 20.3%; that of auto industry increased by 10.4% year on year, with the two-year average growth rate of 3.4%; and that of the sector of electric and heat power production and supply increased by 8.0%, with the two-year average growth rate of 5.4%. High-end industries played a leading role. The value added of hi-tech manufacturing and strategic emerging industries respectively increased by 1.3 times and 1.1 times year on year, with the two-year average growth rate of 54.4% and 42.8% respectively, both being significantly higher than the growth rate of industrial enterprises above designated size.


3. The service sector recovered steadily and the advantaged sectors made outstanding contributions


In the first half of this year, the value added of the Tertiary Industry in Beijing increased by 10.1% year on year, with the two-year average growth rate of 3.3%. Specifically, the sector of information transmission, software and information technology services realized value added of RMB 350.09 billion, up by 17.2% year on year, with the two-year average growth rate of 12.7%; the finance sector realized value added of RMB 369.81 billion, up by 5.0% year on year, with the two-year average growth rate of 5.3%; the sector of scientific research and development, technical services realized valued added of RMB 153.84 billion, up by 5.5% year on year, with the two-year average growth rate of 0.5%. The three sectors contributed more than 50% to the growth of the service sector.


4. Investment scale continued to expand, high-end sectors grew rapidly


In the first half of this year, the total investment in fixed assets of Beijing (excluding peasant households) increased by 9.2% year on year, with the two-year average growth rate of 3.7%. By industries, the investment in the Primary Industry fell by 65.3% year on year, with the two-year average decline rate of 46.1%; the investment in the Secondary Industry grew by 20.5% year on year, with the two-year average growth rate of 31.7%; the investment in the Tertiary Industry grew by 9.7% year on year, with the two-year average growth rate of 2.8%. By sectors, the investment in manufacturing sector grew by 31.8% year on year, with the two-year average growth rate of 66.5%; of which, the investment in hi-tech manufacturing sector grew by 38.6% year on year, with the two-year average growth rate of 75.0%; the investment in the finance sector grew by 6.6 times year on year, with the two-year average growth rate of 72.4%; the investment in education grew by 3.5% year on year, with the two-year average growth rate of 18.5%. By investment fields, the investment in infrastructures fell by 12.4% year on year, with the two-year average decline rate of 16.3%; the investment in real estate development grew by 18.1% year on year, with the two-year average growth rate of 10.8%.


By the end of June, the area of constructed commercial housing of Beijing reached 130.825 million square meters, increasing by 9.3% year on year; of which, the area of constructed residential buildings amounted to 63.814 million square meters, increasing by 12.8%. Steady progress was made in the construction of affordable housing, the area of newly built affordable housing accounted for 49.3% of the newly built area of commercial housing. In the first half of this year, the area of sold commercial housing in Beijing amounted to 4.887 million square meters, increasing by 65.0% year on year, with the two-year average growth rate of 12.3%.


5. Market consumption continued to recover and the online consumption grew rapidly


In the first half of this year, the total market consumption in Beijing grew by 22.1% year on year, with the two-year average growth rate of 3.0%. Specifically, service consumption grew by 23.1% year on year, with the two-year average growth rate of 5.2%; total retail sales of consumer goods amounted to RMB 722.75 billion, up by 21.0% year on year, with the two-year average growth rate of 0.6%. Among the total retail sales of consumer goods, by the pattern of consumption, the commodity retail sales was RMB 666.63 billion, growing by 18.2% year on year, with the two-year average growth rate of 1.1%; and the income from catering was RMB 56.12 billion, growing by 68.0% year on year, with the two-year average decline rate of 4.9%, and with the decline rate being 4.2 percentage points lower than that in Q1. By commodity category, among the wholesale and retail enterprises above designated size, the retail sales of communication equipment, articles for daily use, and stationery and office supplies grew by 31.3%, 28.4% and 24.6% year on year respectively, with the two-year average growth rate of 33.7%, 18.4% and 5.3% respectively. The online consumption grew rapidly; the online retail sales of wholesale and retail enterprises and accommodation and restaurants enterprises above designated size reached RMB 241.46 billion, up by 24.6% year on year, with the two-year average growth rate of 25.2%.


6. The Consumer Price Index (CPI) remained stable and the Producer Price Index (PPI) kept rising


In the first half of this year, Beijing’s CPI rose by 0.5% year on year. In specific, the price of consumer goods rose by 0.6% and that of services rose by 0.4%. In 8 categories of commodities and service items, “the prices of 4 categories rose while the prices of 4 categories dropped”: the price rose by 2.9% for transportation & communication, 0.9% for other supplies & services, 0.6% for housing, and 0.5% for food, tobacco & alcohol; the price fell by 0.3% for clothing, 0.3% for household goods & services, 0.7% for education, culture & entertainment, and 0.7% for healthcare. In June, CPI increased by 0.9% year on year, with the growth rate being 0.3 percentage points lower than that of the previous month, and fell by 0.4% month on month. 


In the first half of this year, Beijing’s PPI rose by 0.5% year on year and IPI was up by 1.3% year on year. In June, PPI rose by 1.8% year on year and rose by 0.1% month on month; IPI rose by 5.0% year on year and was down by 0.3% month on month.


7. Resident income increased steadily


In the first half of this year, the per capita disposable income of residents in Beijing was RMB 38,138, up by 10.3% year on year in nominal terms, with the two-year average growth rate of 6.1%, and up by 9.8% year on year in real terms on inflation-adjusted basis, with the two-year average growth rate of 4.4%. All the four income categories increased: wage income increased by 12.8% year on year in nominal terms, operating net income increased by 14.9% year on year in nominal terms, property net income increased by 9.0% year on year in nominal terms, and transfer net income increased by 4.0% year on year in nominal terms.


On the whole, steady economic recovery has been seen in Beijing in the first half of the year, and the quality of development has been continuously improved. However, it is also worth noting that the international environment remains complex and volatile, there are still many unstable and uncertain factors, and the foundation for the steady recovery and development of domestic economy still needs to be consolidated. Moving forward, we will continue to uphold Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, continue to adhere to the overall work tone of steady progress, further coordinate well in containing and fighting COVID-19 and in economic and social development, keep the economic performance within a reasonable range, and promote high-quality development of Beijing.


Note: The two-year average growth rate refers to the growth rate calculated with the geometric average method based on the corresponding same period in 2019.

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