Market consumption surges 8.4% in Beijing, retail sales see double-digit growth

Updated: Oct 21, 2023 By Chen Meiling Print
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Beijing's overall economy maintained a recovery momentum and the quality of development continued to improve in the first three quarters of this year, local authorities said on Friday.

The city's GDP saw a year-on-year increase of 5.1 percent to reach about 3.17 trillion yuan ($433.5 billion) from January to September, according to a news conference on Friday.

The added value of the primary industry reached 7.14 billion yuan, a decrease of 4.2 percent. The added value of the secondary industry dropped by 0.1 percent year-on-year to reach 452.91 billion yuan. And that of the tertiary industry reached around 2.71 trillion yuan, up 6.1 percent year-on-year, data from the local statistics bureau showed.

Information transmission, software and information technology services, along with the financial industry, contributed over 70 percent to the growth of the service sector. The transportation, storage and postal industry, as well as the accommodation and catering industry, continue to recover with double-digit growth in terms of added value.

Market consumption increased by 8.4 percent during the period. The total retail sales of consumer goods increased by 2.5 percent, with double-digit growth in retail sales of gold, silver, jewelry, clothing, textiles and cosmetics.

In the first three quarters, production demand gradually recovered, employment and prices remained stable, and residents' income continued to increase, according to the news conference.

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