Beijing Economy Slowed down by 1.8 Percentage Points

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Last updated at: (Beijing Time) Sunday, June 22, 2003

Beijing Economy Slowed down by 1.8 Percentage Points

Severe acute respiratory syndrome (SARS) may have slowed down the economy of the national capital of Beijing by 1.8 percent in the first five months, said the city's development planning commission.

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Severe acute respiratory syndrome (SARS) may have slowed down the economy of the national capital of Beijing by 1.8 percent in the first five months, said the city's development planning commission.

Gross domestic product (GDP) in the city rose by 10.4 percent from the same time last year to 120.37 billion yuan (US$14.5 billion), said the commission.

However, SARS did not fundamentally change the momentum of the economy, and commerce, retailing and transportation rebounded in May, said Lu Yingchuan, commissioner with the commission.

Industry was the main force driving the economy, with added value increasing by 13.5 percent to 38.02 billion yuan (US$4.58 billion), making a contribution of 42.2 percent to the GDP growth rate, Lu said.

Despite SARS, the retail trade volume grew 15.2 percent to 75. 06 billion yuan (US$9.04 billion) with a consumer price index of 100.9 percent in the five months.

Lu said fluctuation of the economy caused by SARS remained an obvious short-term influence while tourism and transportation were seriously affected.

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