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Beijing's industrial economy shows strong growth in 2024

0 Comment(s)Print E-mail China.org.cn, January 24, 2025
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Beijing's industrial economy has delivered a strong performance in 2024, with the combined added value of its industry and information software sector exceeding 1.7 trillion yuan, accounting for nearly 35% of the city's GDP and contributing almost 60% to its economic growth, according to the Beijing Municipal Bureau of Economy and Information Technology.

The automotive industry was a key driver. The launch of popular models from companies like Xiaomi, Li Auto, and Stelato spurred advancements in high-end, intelligent, and green technologies. The sector's output reached approximately 443 billion yuan, a 15.9% year-on-year increase and the highest growth rate in nearly a decade.

In 2025, Beijing plans to further boost the automotive industry by leveraging key manufacturers' influence on the industrial chain. "This year, we will utilize the industrial chain driving role of key vehicle enterprises, strengthen industrial base cultivation in key areas, enhance manufacturing and supply capabilities, and implement a number of landmark parts industrialization projects," said Li Jiao, the bureau's director of the Automotive Division.

Beyond the automotive sector, Beijing has also witnessed significant breakthroughs in various high-tech fields. These include advancements in 6G network architecture, brain-computer interface technology, humanoid robotics, high-resolution displays, and innovative drug development.

In 2024, the added value of strategic emerging industries and high-tech manufacturing accounted for over 30% and 40% of the city's total industrial output, respectively, with year-on-year growth rates of 14.6% and 9.6%. Investment in high-tech sectors like integrated circuits, new energy vehicles, and biomedicine comprised over 90% of manufacturing investment.

For 2025, Beijing aims to cultivate another trillion-yuan industrial cluster in green energy and energy conservation in 2025. "We will launch the cultivation of a trillion-yuan scale green energy and energy conservation industrial cluster, support major projects and pilot platforms for new technologies such as new energy storage, accelerate the layout of demonstration scenarios such as virtual power plants and green intelligent microgrids, and create new growth poles for the capital's industrial economy," said Wang De, the bureau's director of the Economic Operation Division.

The city will also enhance innovation support through more pilot testing platforms, enterprise technology centers, and an open-source technology ecosystem. 

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