Beijing Sets GDP Target

Beijing's Gross Domestic Product saw a 10 per cent increase in 1999 compared with the previous year, according to a report released yesterday by Beijing Mayor Liu Qi.

The 216.97 billion yuan (US$26.1 billion) GDP was 1 per cent higher than anticipated by the Beijing Municipal People's Congress (BMPC) at the beginning of the year.

The figures were reported during the first day's session of the 11th BMPC.

According to Liu, Beijing will realize a GDP of 235.5 billion yuan (US$28.4 billion) in 2000, about 9 percentage points up over that of 1999.

While the GDP of the primary industry should increase by 3 per cent, that of the secondary industry should jump by 9.1 per cent. High-tech industries should account for at least 27.5 per cent of the industrial total.

As for the tertiary industry, it should realize an increase rate of 9.2 per cent, contributing no less than 58 per cent to the city's GDP.

To facilitate further development of the tertiary industry, the major contributor of Beijing's economy, Liu promised a 5 per cent increase in local residents' income for this year, while stressing the development of the retail, tourist, real estate, Internet, insurance, cultural and social service trades.

In 1999, the annual per capita income of Beijing's workers was 13,500 yuan (US$1,626.5), while that of Beijing farmers was 4,316 yuan (US$520).

While Beijing will have roughly the same targets for exports and foreign investment this year as in 1999, which are US$3.2 billion and US$2.9 billion respectively, it is set to increase the tourist revenue from last year's US$2.5 billion to US$2.6 billion this year.

Praising the past year as "one of fast development and many victories," Liu told the 656 deputies the city should pay attention to environmental protection and people's needs to continue its success into the new century.


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