Beijing's fixed-assets investment up by 5.9% in 2016

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Beijing’s fixed-assets investment increased by 5.9 percent in 2016, according to the latest data released by the Beijing Municipal Bureau of Statistics.

Infrastructure makes up nearly half of investment growth

In 2016, infrastructure investment in Beijing experienced rapid growth, becoming a main pillar of the total investment. The data shows that last year, the city’s infrastructure investment reached 239.95 billion yuan (US$34.88 billion), up 10.3 percent year on year, accounting for nearly half of the total volume.

Projects on transportation networks such as rail transit and urban road attracted an investment of 97.3 billion yuan (US$14.15 billion), rising 17.7 percent year on year and accounting for over 40 percent of the total investment in infrastructure.

The investment of public services reached 64.38 billion yuan (US$9.36 billion), growing 30.2 percent year on year. Energy investment reached 33.2 billion yuan (US$4.83 billion), up 11.7 percent year on year.

Affordable housing increases by over 60 percent

According to Beijing Municipal Planning and Land Resources Administration Commission, a total of 366 hectares of lands were used for affordable housing construction last year.

The data released by the Municipal Bureau of Statistics shows that in 2016 new construction area for affordable housing reached 10.51 million square meters, up 65.2 percent year on year. The total investment of affordable housing reached 93.62 billion yuan (US$13.61 billion), rising 13.6 percent year on year.

Projects on shantytown transformation have also grown rapidly. Last year, investment in projects on shantytown transformation reached 59.57 billion yuan (US$8.66 billion).

Investment structure leads industrial structural transformation

In 2016, the secondary industry attracted 72.29 billion yuan (US$10.51 billion), up 6.8 percent year on year. Investment in high technology manufacturing industry reached 19.39 billion yuan (US$2.81 billion), rising 61.3 percent year on year.

The tertiary industry attracted 763.9 billion yuan (US$111.02 billion), growing 6.1 percent year on year. Investment in transportation, storage and postal services reached 99.56 billion yuan (US$14.47 billion), up 17.2 percent year on year. Investment in water conservancy, environment and public facility management reached 77.44 billion yuan (US$11.25 billion), rising 32.1 percent year on year.

The cultural, sport and entertainment industries attracted 21.44 billion yuan (US$3.12 billion) worth of investment, growing 55.2 percent year on year, and investment on leasing and commercial service reached 12.92 billion yuan (US$1.88 billion), up 99.9 percent year on year.

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