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Beijing’s economy expands 6.7% in 2017

Updated: Jan 20,2018 8:00 AM     Xinhua

BEIJING — Beijing’s economy grew 6.7 percent year-on-year in 2017, lower than the 6.8 percent in 2016.

The municipality’s gross domestic product totaled 2.8 trillion yuan (about $436 billion) in 2017, accounting for about 3.4 percent of the country’s total output.

Beijing saw 9.5 percent growth in its high-tech industry and strategic new industries expanded 10.6 percent year-on-year.

“In 2017, Beijing’s economy maintained stable yet progressive momentum,” said Pang Jiangqian, vice-director of the municipal statistics bureau.

Beijing’s fixed-asset investment (FAI) grew 5.7 percent in 2017, 0.2 percentage points slower than that recorded a year earlier.

Driven by projects on transport, energy and landscaping, investment in infrastructure in Beijing expanded 24.4 percent last year, 33.4 percent of total FAI in the capital.

In 2017, Beijing’s per capita disposable income stood at 57,230 yuan, up 6.9 percent in real terms, according to the bureau.

Separately, urban and rural per capita disposable income reached 62,406 yuan and 24,240 yuan, respectively, in 2017, up 7 percent and 6.7 percent in real terms after deducting price factors.

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