京津冀区域上半年GDP reaches 5.1 trillion yuan: Beijing Statistics Bureau

In a significant economic update, the Beijing Statistics Bureau revealed on August 28 that the Jing-Jin-Ji region, comprising Beijing, Tianjin, and Hebei provinces, collectively achieved a regional gross domestic product (GDP) of 5.1492 trillion yuan (approximately USD 740 billion) in the first half of the year. This figure underscores the robust economic activity in one of China’s key economic zones.

According to the data, Beijing’s GDP stood at 2.1791 trillion yuan, Tianjin at 0.8191 trillion yuan, and Hebei at 2.1510 trillion yuan. All three regions showed positive growth rates when measured at constant prices. Beijing posted a growth of 5.4%, Tianjin registered 4.9% growth, and Hebei’s GDP expanded by 5.0% compared to the same period last year.

The high-tech industry in the Jing-Jin-Ji region has been a key driver of investment growth. In the first half of the year, high-tech manufacturing investment in Beijing, Tianjin, and Hebei increased by 53.5%, 9.0%, and 31.4%, respectively, while high-tech service sector investments rose by 13.6%, 10.9%, and 6.7% in each respective region.

The consumer market in the Jing-Jin-Ji area is also showing signs of continued recovery. The region collectively realized 1.6 trillion yuan in retail sales of social消费品, marking a 1.6% growth. A notable trend is the strong demand for new energy vehicles, which saw double-digit growth across all three regions. The effect of consumer goods exchange policies is evident, with Beijing’s sales of household appliances and audio-visual equipment turning positive, and天津 and Hebei recording growth rates of 15.6% and 14.0%, respectively.

The integration of transportation and the sharing of public services in the Jing-Jin-Ji region have led to new achievements. By the end of June, customized express buses for commuting between Beijing and天津’s武清, 宝坻, and河北的固安, 涿州 were initiated. The network now includes nine main lines and 35 branch lines, with an average daily passenger volume of 6,500 people. Efforts to extend京津养老 projects into河北 are also underway, with 2,798 healthcare institutions and 2,598 pharmacies in 24 counties (districts) surrounding Beijing and Tianjin now offering direct settlement services for healthcare and pension recipients from those cities.

These positive economic indicators come amidst a backdrop of steady growth in China’s industrial sector. The National Bureau of Statistics recently reported that the profits of China’s规模以上 industrial enterprises increased by 3.6% year-on-year in the first seven months of 2024. This growth, along with the development of key infrastructure projects and the expansion of high-tech industries, highlights the resilience of the Chinese economy.

As the Jing-Jin-Ji region continues to integrate and its economy strengthens, it is poised to play an increasingly important role in China’s overall economic development. The area’s progress in high-tech investment, consumer market recovery, and improved transportation and public services bodes well for its future prospects and contributes positively to the nation’s growth story.

In conclusion, the Jing-Jin-Ji region’s strong economic performance in the first half of the year is a testament to the effectiveness of regional integration and strategic investments. With ongoing efforts to improve infrastructure, foster innovation, and enhance public services, this key economic zone is set to maintain its upward trajectory, contributing significantly to China’s overall economic stability and growth.

【source】http://www.chinanews.com/cj/2024/08-28/10276033.shtml

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