In the first seven months of this year, Beijing's economy registered a stable performance featured with better structure and greater efficiency, according to data released by the Beijing Municipal Bureau of Statistics.

High-end industries have taken the lead in industrial growth and become a new driving force for development. In Yizhuang, known as Beijing E-town in the southeastern suburbs of Beijing, the Fengchuang Science and Technology Venture Park (VPark) has injected vitality to the area's transformation and upgrading efforts.

Data shows that from January to July this year, the added value of industrial enterprises with annual revenue of 20 million yuan or more from their main business operations increased by 6.4 percent year on year. The added value of computer, communications and other electronic equipment manufacturing grew by 23.5 percent.

In regard to investment, fixed-asset investment has delivered increasing social benefits. In the seven months, Beijing's total fixed-assets investment reached 428.52 billion yuan (US$64.21 billion), increasing 5.3 percent compared with the same period last year. Among that, 131.57 billion yuan has been invested in infrastructure, a rise of 24.3 percent.

As for consumption, the accessibility and convenience of daily goods has driven steady growth in the city's consumption. From January to July, Beijing has built and upgraded 792 convenience spots, including 267 vegetable retail stores, 116 convenience stores and 76 breakfast stalls.

According to statistics, the city's total consumption value stood at 1,357.35 billion yuan in the seven months, an increase of 9.4 percent year on year. Service-based consumption reached 736.76 billion yuan, up 12.9 percent, while consumption of commodities hit 620.59 billion yuan, up 5.6 percent.

With respect to housing, Beijing has intensified its efforts to build affordable housing while stabilizing the commercial housing market. In the past seven months, the capital city has invested 42.63 billion yuan in affordable housing projects with 36.993 million square meters under construction, up 6.6 percent. In the first half of the year, 37,500 sets of affordable houses started construction, while 65,700 sets have been built.

In June, Beijing's new home prices fell by 0.4 percent on a monthly basis, and second-hand residential prices fell by 1.1 percent. Meanwhile, from January to July, the city's sales area of commercial housing stood at 4.806 million square meters, down by 40.9 percent.

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