Beijing-Tianjin-Hebei Region Surpasses 5 Trillion Yuanin GDP in First Half of 2024
BEIJING, Aug. 29 (Xinhua) — The Beijing-Tianjin-Hebei (Jing-Jin-Ji) region achieved a combined regional gross domesticproduct (GDP) of 5.1492 trillion yuan (about $720 billion) in the first half of 2024, according to data released by the Beijing Municipal Bureau of Statistics on Tuesday.
This marks a significant milestone for the region, surpassing the 5 trillion yuan mark for the first time. Beijing contributed 2.1791 trillion yuan, Tianjin 819.1 billion yuan, and Hebei 2.151 trillion yuan to the total.
In terms of year-on-year growth, the Jing-Jin-Ji region saw a 5.0% increase in GDP at constant prices, with Beijing at 5.4%, Tianjin at 4.9%, and Hebei at 5.0%.
This year marks the 10th anniversary of the implementation of the coordinated development strategy for the Jing-Jin-Ji region. Over the pastdecade, the three regions have witnessed substantial economic growth and increasingly close industrial ties.
Industrial Growth and Service Sector Expansion
In the industrial sector, the three regions saw a combined growth of 7.1% in the first half of 2024, with Beijing at 7.1%, Tianjinat 4.4%, and Hebei at 7.6%.
The service sector also experienced significant expansion, reaching 3.6039 trillion yuan in the first half of 2024. Beijing contributed 1.8712 trillion yuan, Tianjin 531.2billion yuan, and Hebei 1.2015 trillion yuan. The growth rates for the service sector were 5.4% for Beijing, 5.2% for Tianjin, and 4.5% for Hebei. Notably, information and financial industries saw particularly strong growth.
Investmentand Innovation
In terms of investment, the three regions recorded a combined fixed asset investment (excluding rural households) growth of 6.4% in the first half of 2024. Beijing saw a 9.6% increase, Tianjin 5.0%, and Hebei 6.4%.
High-tech industries continued to thrive, with Beijing, Tianjin, and Hebei recording high-tech manufacturing investment growth of 53.5%, 9.0%, and 31.4%, respectively. High-tech service investment also saw robust growth, reaching 13.6% forBeijing, 10.9% for Tianjin, and 6.7% for Hebei.
Synergy in Innovation and Industry
The Jing-Jin-Ji region has made significant progress in fostering innovation and industrial collaboration. In the first half of 2024, Beijing transferred 2,452 technology contracts to Tianjin and Hebei, with a total transaction value of 345.4 billion yuan, representing a 75.7% year-on-year increase.
In May, the leading officials of the three regions held a meeting and approved the Action Plan for Promotingthe Implementation of Six Key Industrial Chain Maps in the Three Provinces and Cities of Jing-Jin-Ji, outlining 42 tasks to further strengthen industrial collaboration.
During the first half of 2024, Tianjin received 938.5 billion yuan in investment from Beijing and Hebei, accounting for50% of its total investment.
The positive economic performance of the Jing-Jin-Ji region demonstrates the effectiveness of the coordinated development strategy. The region is expected to continue its growth trajectory, driven by innovation, industrial collaboration, and infrastructure development.
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