| Beijing
reports two-digit economic growth rate (11/13/2002)
The gross domestic product of Beijing, the Chinese capital, totaled
243.41 billion yuan (US$29.4 billion) in the first ten months of
this year, a rise of 10 percent on a yearly basis, the city statistics
bureau said Wednesday.
The city also scored a year-on-year 13.6 percent increase in the
total output value of the agricultural, forestry, animal husbandry
and fishery sectors, an increase of 13.8 percent in industrial added
value, and an 18.4 percent rise in fixed assets investment.
Analysts cited the rapid development of industrial production,
steady increase in investment, growing market demand and big growth
in exports and local fiscal revenue as the major contributing factors
to the two-digit growth rate of the local economy.
The statistics bureau said major projects and the real estate industry
remained the two major driving forces behind the rapid increase
in the city's fixed assets investment from January to October.
During that period, Beijing's 60 major projects used 42.53 billion
yuan (US$5.14 billion) in investment, and the total investment in
the real estate sector reached 70.33 billion yuan (US$8.5 billion),
up 47 percent and 30.3 percent year-on-year, respectively.
The successful bid for hosting the 2008 Olympic Games has made
Beijing an investment hotspot for foreigners. In the first ten months,
the city approved 1,161 foreign-funded ventures, 29.9 percent more
than a year earlier. Contractual foreign investment totaled 4.44
billion US dollars, doubling the figure for the same period last
year.
So far this year, the city government has harvested 46.46 billion
yuan (US$5.6 billion) in fiscal revenue, a year-on- year increase
of 26.9 percent. The per capita income for both urban and rural
dwellers grew by more than 14 percent.
(Xinhua)
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