Beijing's economy grew at a steady pace with much improved quality and efficiency during the first seven months this year, according to a report released by the city's statistics authorities.

The report suggests that high-end manufacturing continued to play a leading role in industrial growth, and key industries maintained a sound momentum. In terms of consumer spending, total spending increased steadily, and spending on services and online spending in particular recorded growth in double digits.

According to the report, from January to July, industrial enterprises above the designated size have achieved a year-on-year increase of 7.9 percent in added value. Among them, high-tech manufacturing and strategic emerging industries increased by 17 percent and 12.8 percent respectively.

Among the key industries, pharmaceutical manufacturing in the Chinese capital grew by 19.8 percent. A chart released recently of the top 100 Chinese pharmaceutical companies in 2017 includes five companies based in the Beijing Economic and Technological Development Area, which has prioritized biomedicine for years.

Meanwhile, computer, communications and other electronic equipment manufacturing grew by 19.7 percent, and automobile manufacturing achieved a 4 percent growth. In the first seven months, the city rolled out 1.06 million vehicles, of which sedans accounted for about 50 percent.

This promising development of the automobile manufacturing industry in Beijing has attracted an increasing number of international elite professionals to join in. For instance, earlier this month, the BAIC Group set up a job fair in Germany, which attracted more than 400 candidates experienced in the automotive and general aviation industries. About 100 people signed letters of intent at the fair.

The city has revved up investment in improving people's wellbeing. From January to July, Beijing saw a total investment of 364.86 billion yuan (US$52.85 billion) in fixed assets. Specifically, 59.56 billion yuan went to the transportation sector, a rise of 7.3 percent; 10.29 billion yuan was invested in post telecommunications sector, an increase of 26 percent.

During the seven months, the municipal transport authorities have been working to optimize the subway system. For instance, the Guomao Station in the city's crowded Central Business District will be rebuilt, and the project is to be completed in three years.

In addition to transportation, the housing market is showing a new trend. From January to July, the investment in real estate stood at 176.66 billion yuan, down 5 percent, but the investment in affordable housing totaled 61.22 billion yuan, a growth of 43.6 percent.

The biggest housing project with joint property rights in Haidian District was launched in Xibeiwang in June. This project would provide such public facilities as libraries, gyms, coffee shops, senior activity centers, community clinics, fitness centers for seniors, and so on.

In terms of spending, service spending has achieved a double-digit growth in Beijing. It reached 819.24 billion yuan from January to July, an increase of 11.2 percent. Spending on transportation and communication, education, culture and entertainment all grew significantly. The city's total consumer spending was 1,455.65 billion yuan in the first seven months, an increase of 8 percent over the same period last year.

Online spending has stood out among various types of consumer spending. From January to July, online sales of wholesale and retail businesses above the designated size achieved a revenue of 131.9 billion yuan, an increase of 19.8 percent. In terms of spending patterns, online retail sales recorded 573.1 billion yuan, up 3.7 percent, while online spending on food and beverage was 63.31 billion yuan, up 8.2 percent.

As spending grew steadily, price remained stable. The average consumer price rose by 2.4 percent over the same period last year. However, the prices of fresh fruits, vegetables and eggs inflated at a higher rate, partly due to the relative low prices in the same period last year.

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