In December 1978, the Third Plenary Session of the 11th CPC Central Committee was held, opening the curtain of China's reform and opening up. Looking back on 40 years of glorious history, China has made remarkable achievements in various undertakings that attract worldwide attention. As the capital, Beijing has always been at the forefront of the reform and opening up, unswervingly pushing forward the system reform and opening up to the outside world, and has made remarkable achievements in terms of economic and social development.
Over the past 40 years of reform and opening up, Beijing's economic structure has been continuously optimized and its comprehensive economic strength has achieved a historic leap forward.
Beijing is the leader in terms of comprehensive economic strength
• Beijing's GDP in 2018 exceeded RMB3 trillion, doubling every 5 years on average over the past 40 years, achieving an average double-digit real growth of 10% per year, and its proportion of the total economy output in the country rose from 2.9% to 3.4%.
• Its GDP per capita is USD21.3 thousand, ranking the 1st place in China, and reaching the level of developed countries.
• Its total labor productivity amounted to RMB240 thousand per person, ranking the first place in the country.
Further consolidation of "321" Economic Structure
In mid-1990s, the proportion of the tertiary industry in Beijing exceeded that of the secondary industry, and the "321" industrial structure was basically established.
In 2018, the proportion of Beijing's service industry in GDP was 81%, nearly 30% above the national average. The global average is about 70%, and the developed countries is about 75%.
The service industry plays a leading role in the economic development of Beijing.
The economic structure of Beijing leads the trend of economic structure of China transformation and upgrading.
Consumption becomes the first engine in the "Troika"
Over the past decade, Beijing's consumption rate has consistently exceeded the investment rate, and its economic growth has shifted from a two-wheel drive of investment and consumption to a consumption driving only.
In 2018, Beijing realized a total market consumption of RMB2.5 trillion, an increase by 7.4% over the same period last year; of which, its total retail sales volume of social consumer goods reached RMB1.2T, an increase by 2.7% over the same period last year; its service consumption volume RMB1.4T, an increase by 11.8% over the same period last year, accounting for 53.8% of the total consumption volume. Its service consumption continuously played the role as the "main engine" stimulating the capital consumption.
Its industrial structure showed an "advanced" development trend
Its industry has changed from labor intensive to capital and technology intensive.
In 2018, the high-tech manufacturing industry maintained a double-digit growth momentum, with a year-on-year growth rate of 13.9%, contributing 66.3% to the growth of above-scale industries. Of which, electronics and communications equipment manufacturing, aviation, spacecraft and equipment manufacturing, and pharmaceutical manufacturing grew by 19.6%, 18.7% and 16.2% respectively.
The development of service industry has changed from scale expansion to structural optimization.
The proportion of modern service industries, namely of financial industry, information service industry and science and technology service industry, in the regional GDP is 60.6%, 14% higher than that in 2005.
Its attraction of high-tech service industry keeps rising
• In 2018, the added value of the new economy exceeded RMB1 trillion, accounting for 33.2% of the city's GDP
• The investment in high-tech service industry reached RMB50.78B, an increase of 18.9% over the same period last year
• The number of state high-tech enterprises reached 25,000, an increase of 25% over the same period last year
• The total income of Zhongguancun Demonstration Area exceeded RMB5.8 trillion
• 80 Unicorn enterprises, ranking the first place in China
Beijing is an important window for China's opening up to the outside world. Since the first foreign-invested enterprise was established in Beijing, after nearly 40 years of development, foreign investment in Beijing has gradually formed a comprehensive, wide-ranging and multi-level development pattern.
Steady and stable foreign investment
In the past five years, Beijing has introduced a total of USD165.6B of contracted foreign capital, and a total of USD76.7B of actually utilized foreign capital, an average annual growth rate of 21.6%. The scale of introduced foreign investment has accounted for nearly 50% of the total since the reform and opening up.
In 2018, 1639 new foreign-invested enterprises were set up in Beijing, an increase by 25.2% over the past year; its contracted foreign capital amounted to USD41.8B, an increase by 24.6% over the past year, and its foreign capital actually utilized was USD17.3B, ranking first in whole China.
Diversity of foreign- invested industry and increase of foreign- investment volume
• As of 2018, 224 foreign news agencies in Beijing, 32 headquarters and branches of international organizations, 3022 foreign representative agencies and 110 foreign non-governmental organizations settled down in Beijing.
• In 2018, 53 headquarters of Top 500 enterprises were settled down in Beijing, ranking the first place in the world.
The international influence of Beijing has been further highlighted.
Continuous optimization of investment attraction quality
Service industry has become a key area for attracting foreign investment in Beijing.
In the past five years, the actual utilization of foreign capital in service industry has increased from USD8.06B to USD16.2B, and the proportion of foreign capital utilized in service industry has accounted for more than 85% of the whole city.
Foreign investment in high-tech service industry is outstanding
In 2018, 856 new foreign-invested enterprises were set up in the high-tech service industry, an increase of 31.2% over the previous year, accounting for 52% of the new foreign-funded enterprises in the whole city, and the actual utilization of foreign capital amounted to USD6.89B, accounting for 40% of the whole city.
The effect of foreign capital gathering is obvious
Chaoyang District, Haidian District, Shunyi District and Dongcheng District are the main gathering places of foreign capital in Beijing. The total number of foreign-invested enterprises in the four districts and the actual utilization of foreign capital there account for more than 70% of the whole city, showing an outstanding and obvious gathering effect.
The origins of investments are diversified
• More than 165 countries or regions have set up foreign- invested enterprises in Beijing.
• Hong Kong, Europe, the United States and South Korea are the main sources of investment, accounting for 80% of the total.
• The investments made by the member states of "Belt and Road", “G20” and other international organizations are showing increasingly growth year by year.