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E-mail China.org.cn, November 19, 2024
Beijing's statistics authorities released the city's economic data for the period from January to October, demonstrating a generally stable economic performance.
In the first 10 months of 2024, Beijing's industrial output increased by 6.5% year on year. Among key industries, the manufacturing of computers, communications, and other electronic equipment grew by 20.7%. The growth rates of the automotive manufacturing sector, the production and supply of electricity and heat, and the pharmaceutical manufacturing industry were 15.2%, 8.2%, and 1.4%, respectively.
From January to October, the added value of Beijing's high-tech manufacturing industry and strategic emerging industries grew by 8.8% and 13.3%, respectively. The production of new energy vehicles, industrial robots, wind turbines, and smartphones increased by 2.1 times, 30.8%, 26.8%, and 19.2% in turn.
In terms of investment, the city's fixed asset investment excluding rural households increased by 7.3% year on year. The pace of equipment upgrading has accelerated, with investment in equipment procurement growing by 44%, driven by industries such as computers, communications, and other electronic equipment, as well as information transmission, software, and IT services. This 10-month growth rate was 9.9 percentage points higher than that of the first three quarters.
The recovery of consumption continues. From January to October, the total market consumption in Beijing increased by 2.9% year on year, in which service consumption grew by 6.9%. The total retail sales of consumer goods reached 1.16 trillion yuan (US$162 billion), a decline of 1.3%, with the decline narrowing by 0.3 percentage points compared to the first three quarters.
In the total retail sales of consumer goods, enterprises above designated size in the wholesale and retail industries, as well as those in the accommodation and catering industries, achieved online retail sales of 470.48 billion yuan, an increase of 5.4%.
Prices remained stable, with the city's consumer price index rising by 0.1% year on year.
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