Beijing's GDP set a new high of 4.38 trillion yuan (US$619.65 billion) in 2023, an increase of 857 times compared to 1952 when measured at constant prices.

This reflects an average annual growth rate of 9.9%, according to data released by the municipal statistics authority on Monday.

The data also shows that the city's per capita GDP has risen from less than 100 yuan to 200,000 yuan over the past few decades, keeping Beijing in the lead nationwide.

Over the years, the city's industrial mix has significantly evolved, shifting from a focus on the secondary industries in the 1950s to a dominance of the tertiary sector by the late 20th century. Since 2015, the service sector's share of the economy has remained above 80%.

In addition, industries are becoming higher end. For example, the share of traditional service industries dropped from more than 50% in the early years following the founding of the People's Republic of China (PRC) to just 11.1% in 2023.

At the same time, living standards in Beijing have greatly improved, as the city made great strides in education, healthcare, environmental protection, and transportation. Per capita disposable income has increased from just about 200 yuan from the early days of the PRC to 81,752 yuan in 2023.

Related

Go to Forum >>0 Comment(s)