Introduction

Economic Strength

2011 was the first year of the 12th Five-Year Program (2011-2015), a year during which the city accelerated its transformation of socio-economic developments, achieving breakthroughs in adjustment of its economic structure.

Beijing's GDP (gross domestic product) increased to 1.6 trillion yuan (about $247.68 billion, based on an annual average rate of about 6.46 yuan per $1 in 2011, excluding price changes), an increase of 8.1 percent over 2010. The GDP growth rate was in line with targets set by the Beijing Municipal Committee of the Communist Party of China and the People's Government of Beijing Municipality at the beginning of 2011.

In 2011, Beijing's per capita GDP also increased. Based on its permanent population, Beijing's per capita GDP increased to $12,447, rating its population on a level with that of relatively wealthy countries, according to the World Bank. According the standards set by the World Bank, countries with per capita GNI (gross national income) of $1,005 or less were rated as low-income countries; those with per capita GNI of $1,006-$3,975 were below medium-income countries; those with per capita GNI of $3,976-$12,275 were above medium-income countries; and those with per capita GNI of $12,276 or more were considered wealthy.

Economic structure

In recent years, its industries have been characterized as "high-end, highly efficient and influential”.

By "optimizing agriculture, strengthening the manufacturing industry and bolstering the tertiary industry," Beijing has upgraded its industrial structure.

The Shougang (Capital Steel) Group and other heavy-industrial enterprises have moved out of the city. The municipality adjusted developments of its automobiles and real estate sectors, continued developing the manufacturing services, cultural and creative and high-tech, modern manufacturing industries and urban-style modern agriculture, enhanced financial, scientific and technological, as well as information services, by reinforcing a high-end industrial development pattern, putting the tertiary industry in the lead.

In 2011, the ratio among Beijing's industrial structure involving agriculture, manufacturing sector and tertiary industry was 0.9:23.4:75.7. Total output value of its tertiary industry exceeded 1.2 trillion yuan ($185.76 billion), ranking first in the country. The tertiary industry has been promoting local brands: "Designed by Beijing" and "Beijing Services”.

The manufacturing service industry, featuring financial, information, scientific and technological and business services, has become the industrial leader in Beijing's tertiary industry. The added value of the manufacturing service industry was 812.48 billion yuan ($125.77 billion), accounting for 65.7 percent of total added value of its tertiary industry and 50 percent of the Beijing's GDP.

The financial industry provided more than 10 percent of Beijing's GDP, ranking it the second most important in the tertiary industry. The added value of the information communications, computer services and software industries, along with rental and business services industries increased by more than 20 percent and 18 percent year on year; the added value of scientific research, technological services and geological-exploration industries increased by more than 10 percent; and retail and wholesale industries increased by more than 8 percent.

The modern manufacturing and high-tech industries are mainstays of the manufacturing sector, and stratigic-emerging industries are becoming industrial leaders. The added value of Beijing's manufacturing industry was 374.44 billion yuan ($57.96 billion, excluding price changes), increasing by 6.6 percent over 2010. The added value of the above-designated-size manufacturing industry [above-designated-size enterprises are those with annual revenues from their main businesses equal to or more than 20 million yuan ($3.1 million)] increased by 7.4 percent to 303.9 billion yuan ($47.04 billion) from 2010, and that of the architectural sector was 70.54 billion yuan ($10.92 billion).

Among the above designated-size manufacturing industry, the medical manufacturing industry, general equipment manufacturing industry and the transportation equipment manufacturing industry are leading forces; their added values increased by 27.2 percent, 13.6 percent and 13 percent respectively year on year. Beijing's GDP is getting "greener." In 2011, a mere 0.6 percent increase in localized energy consumption supported 8.1 percent growth in the city’s economy. The municipality used only 0.46 tons of standard coal per 10,000 yuan ($1,547.99) in GDP, a year-on-year decrease of 6.9 percent (the sharpest decline in the country).

The demonstration, ecological and leisure functions of Beijing's agriculture were strengthened. The added value of  agriculture was 13.62 billion yuan ($2.11 billion, excluding price changes), an increase of 0.9 percent over 2010; 1.218 million tons of grain was produced, an increase of 5.3 percent over 2010; the per capita net income of Beijing's suburban rural residents was 14,736 yuan ($2,281.11), a year-on-year increase of 13.6 percent.