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E-mail China.org.cn, January 26, 2024
The economy of the Beijing-Tianjin-Hebei region grew to 10.4 trillion yuan ($1.45 trillion) in 2023, according to data released by Beijing's statistics authority on Thursday.
Specifically, Beijing, Tianjin, and Hebei reported GDPs of 4.38 trillion yuan, 1.67 trillion yuan, and 4.39 trillion yuan, respectively, up 5.2%, 4.3%, and 5.5% from the previous year.
The data also shows that the added value of industrial enterprises above the designated size in Beijing, Tianjin, and Hebei rose 0.4%, 3.7%, and 6.9%, respectively. Beijing's fixed-asset investment went up 4.9% year on year in 2023.
The high-tech sector in the region witnessed rapid growth, with investment in high-tech industries of Beijing and Tianjin rising by 16.2% and 5.9%, respectively.
The thriving service sector was behind the region's growing economy. The total value added in the region’s service sector reached 7.1 trillion yuan, with Beijing contributing more than half, followed by Hebei and Tianjin.
In particular, the information and finance industries contributed more than 70% of Beijing's economic growth in 2023, reflecting their leading roles in the service sector.
The consumption market also achieved steady recovery as the government implemented a series of measures to stimulate consumption. In 2023, the retail sales of consumer goods of Beijing, Tianjin, and Hebei increased by 4.8%, 7%, and 9.6% to 1.45 trillion yuan, 382.07 billion yuan, and 1.50 trillion yuan, respectively.
Among them, the consumption of new energy vehicles performed exceptionally well, up 38%, 41.3% and 74.4%, respectively.
Scientific and technological innovations also supported the development of the regional economy. The total turnover of Beijing's technology contracts flowing to Tianjin and Hebei reached 74.87 billion yuan in 2023, more than doubling the previous year. The transfer mainly occurred in the fields of urban construction and social development, new energy, and modern transportation.
Moreover, the coordinated development of the Beijing-Tianjin-Hebei region brought more benefits to local residents. In 2023, the per capita disposable income of Beijing, Tianjin, and Hebei amounted to 81,752 yuan, 51,271 yuan, and 32,903 yuan, representing a nominal increase of 5.2%, 4.3%, and 6%, respectively, compared with 2013.
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