Beijing Continues Steady Economic DevelopmentThe economic development of China's capital proceeded smoothly this year, as indicated by government statistics issued recently.The city's total GDP (Gross Domestic Product) hit 213.78 billion yuan (US$26 billion) by the end of November, up 10.9 percent from the same period last year. The high-tech sector expanded by over 40 percent from last year and contributed 60.9 percent to the industrial increment. During the first ten months of this year, the city saw imports and exports totaling US$40.24 billion, up 45.9 percent. Exports reached US$9.94 billion, up 24.4 percent. To aid the bid to the host of 2008 summer Olympic Game, the city invested 91.86 billion yuan (US$11.2 billion) on fixed assets, up 13 percent from last year. The city's investment in real estate in the first 11 months amounted to 41.5 billion yuan (US$5 billion), up 27.1 percent, and the investment in infrastructure hit 27.73 billion yuan (US$3.4 billion), up 22.2 percent. The average income of employees in the city during the past eleven months reached 13,606 yuan (US$1,659), up 16 percent. The disposable income of urban residents reached 9,489 yuan (US$1,157), up 12.9 percent. |
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