A capital idea sees Beijing share its growth

Updated: Jul 31, 2023 By DU JUAN China Daily Print
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The New Actuation Fintech Center in Beijing's Xicheng district has been built on the site of a former wholesale clothing market. ZHANG WEI/CHINA DAILY

Less is more

Since then, Beijing has made efforts to get rid of or relocate functions not essential to its role as the national capital through collaboration with Tianjin and Hebei.

Nearly 3,000 manufacturing enterprises have been shifted from Beijing, and 1,000 regional markets and logistics centers were either removed or upgraded, according to the Beijing Municipal Commission of Development and Reform.

Over 7,700 convenience service outlets opened citywide during this period, an indication of the capital's new direction.

Under the guidance of the national-level strategy, Beijing also became China's first megacity, a metropolis with a population exceeding 10 million, to achieve sustainable economic growth while consuming fewer resources.

The permanent population of the city's major urban districts has declined by 15 percent since 2014. By strictly controlling construction in urban and rural areas, the city's built-up areas have been reduced by 120 square kilometers, said the Beijing Municipal Commission of Development and Reform.

Even though the population has been reduced and less land allocated for construction, the capital's economic growth has steadily increased.

In 2021, Beijing's GDP passed the 4 trillion yuan ($570 billion) mark for the first time, with a year-on-year increase of 8.5 percent. Even with the impact of the COVID-19 pandemic, the city's GDP recorded a slight increase last year to reach 4.16 trillion yuan.

Beijing's GDP for the first half of this year was 2.06 trillion, with year-on-year growth of 5.5 percent. The city government said it expects the upward growth trend to continue.

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