The Beijing-Tianjin-Hebei region witnessed an impressive 90% growth in its gross domestic product (GDP) over the past decade, reaching 10.4 trillion yuan (about $1.46 trillion) in 2023 compared to 2013.
Beijing has been strategically transforming by moving out its non-capital functions, shutting down over 3,000 manufacturing companies, and upgrading nearly 1,000 markets and logistics centers in the last ten years.
Signifying a shift towards high-quality growth, the proportion of new business entities in high-end industries such as technology, commerce, culture, and information surged to 66.1% in 2023 from 40.7% in 2013.
Enterprises from Zhongguancun, Beijing’s national high-tech industrial development zone, have expanded significantly, setting up over 10,000 branches in Tianjin and Hebei. Additionally, Beijing-based companies made 49,000 investments in the neighboring regions, totaling 2.3 trillion yuan.
Infrastructure development has kept pace with economic integration, boasting over 11,000 km of railway lines and nearly 11,000 km of highways, marking increases of more than 30% and 40% respectively since 2013.
Reference(s):
cgtn.com