Beijing's economy continues upward trajectory in Jan-April

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Industrial production in Beijing continued to accelerate from January to April, with the value added of large industrial firms rising 7.9% year on year at comparable prices, 0.4 percentage point higher than the first quarter, according to the Beijing Municipal Bureau of Statistics.

Data showed 19 of Beijing's 37 major industrial sectors saw year-on-year growth in value added in the first four months, with computer, communication and other electronic equipment manufacturing up 20.3%, automobiles up 19.5%, power and heat production and supply up 9.5%, and pharmaceuticals up 1.8%.

The Chinese capital produced 391,000 vehicles from January to April, a 17.8% increase from the same period last year, including 65,000 new energy vehicles. Mobile phone output reached 36.8 million units, up 25.1%, while integrated circuits hit 7.91 billion units, up 20.3%.

Industrial sales and exports also saw steady growth. In the first four months, industrial firms reported 761.81 billion yuan ($105.2 billion) in sales, up 7.7% year on year. Export deliveries were worth 64.42 billion yuan, up 19.3% and 1.8 percentage points higher than the first quarter. Domestic sales reached 697.39 billion yuan, up 6.7%.

Investment remained a key growth driver, with fixed asset investment (excluding rural households) up 11.6% year on year in January-April. Investment in manufacturing and infrastructure jumped 30.5% and 11.9% respectively. Primary industry investment fell 35.7%, while secondary and tertiary sectors saw 25.2% and 10.2% growth respectively. High-tech manufacturing and high-tech services investments increased 41.7% and 41.1%, respectively.

Total market consumption in the city grew by 5% year on year from January to April. Services consumption increased by 10.4%, maintaining double-digit growth. Total retail sales of consumer goods amounted to 464.91 billion yuan. Online retail sales of enterprises above designated size in the wholesale and retail, accommodation, and restaurant industries reached 162.44 billion yuan, up 1.3%.

Consumer prices saw a moderate increase, with prices up 0.2% year on year from January to April. Food prices fell 4.5%, but non-food prices rose 1%. Goods prices dropped 1.1%, while services climbed 1.6%.

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