Beijing's per capita GDP exceeds US$20,000 in 2018

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The per capita GDP of Beijing reached US$21,300 last year - the most in the country - pushing the city's pursuit of high quality development to a new level.

Data also shows that Beijing's GDP in 2018 surpassed 3 trillion yuan (about US$447 billion) for the first time, up 6.6 percent year-on-year. 

Beijing's current economy aggregate is the sign of a key turning point in its development, meaning the city now has an enormous capacity for driving its own high-quality development, as well as supporting the coordinated development of the Beijing-Tianjin-Hebei region and the construction of Xiongan New Area, according to Liu Zhenzhong, an associate researcher from an institute under the National Development and Reform Commission.

And such progress is made by joint efforts of adjusting industrial structure, relocating Beijing's non-capital functions, and developing high-grade, precision, and advanced industries.

In 2018, Beijing's industrial structure was further optimized, with added values of the high-tech manufacturing industry and the strategic emerging industry rising by 13.9 percent and 7.8 percent, respectively. The service sector accounted for up to 81 percent of the city's total GDP.

Beijing has taken a series of pro-business measures to develop the high-end industries such as information technology, medical health, and AI. 

The city also introduced tax policies to ease the burden on private businesses, including VAT reduction, cutting corporate income tax for more businesses, and personal income tax reform. In 2018, Beijing reduced taxes by about 40 billion yuan and abolished administrative fees from enterprises.

The next steps for Beijing's high quality development will focus on scientific and technological innovation.

In 2019, Beijing plans to step up efforts in building three science cities and the Beijing Economic-Technological Development Area (BETDA). Zhongguancun Science City will focus on the development of cutting-edge and core technologies, Huairou Science City will strive to build national major science infrastructure, Future Science City will adopt tailored measures to make full use of the resources offered by state-owned enterprises there, and BETDA will build four industrial clusters, including new generation information technology, new energy smart automobile, and 20 innovation centers.

Beijing will step up infrastructure construction for 5G and industrial internet, and advance the implementation of major projects, such as the drone theme town in Zhongguancun Yanqing Park.

In addition, Beijing will mull over polices to further spur consumption, especially in the fields of culture and education. Activities will also be held to welcome Beijing 2022 Winter Olympics and 2019 Expo.

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