Information Services and Finance Drive Over 70% of Beijing's Economic Growth

Deep News
Jul 31

In the first half of the year, Beijing's economy maintained a high start and stable growth, with Information services and the finance sector contributing over 70% to economic expansion. Investments in high-tech manufacturing and technology services surged by 36% and 87.2%, respectively. On Tuesday, the 25th session of the 16th Beijing Municipal People's Congress Standing Committee reviewed a report on the implementation of the city's economic and social development plan for the first half of 2026.

The production of service robots more than doubled year-on-year. During the first six months, Beijing's gross domestic product grew by 5.4% year-on-year, outpacing the national average by 0.7 percentage points. From an industrial structure perspective, the service sector's role as an economic stabilizer became more pronounced. The value-added output of Information services and finance rose by 9.4% and 10.2%, respectively, with these two industries collectively driving over 70% of economic growth. The pace of manufacturing transformation and upgrading accelerated, with output of integrated circuits, industrial robots, and service robots increasing by 17.8%, 75.5%, and 2.3 times, respectively, enhancing the quality of "Beijing-made" products.

The accumulation of innovation momentum was particularly notable. Beijing achieved 58 awards at the 2025 National Science and Technology Awards, ranking first among all cities nationwide. Investment data reinforced this trend: high-tech manufacturing and technology service investments grew by 36% and 87.2%, respectively, as numerous R&D centers and pilot platform projects advanced rapidly, reflecting strong market confidence in Beijing's innovation ecosystem. New quality productive forces developed quickly. The digital economy's added value increased by 7.8% year-on-year in the first half, with new forms of intelligent economy accelerating. An additional 22,000 P of intelligent computing power was added, and the city's first token factory was officially put into operation. The number of new energy vehicles surpassed 1.4 million, with 140,000 new vehicles added in the first half.

Private investment grew by 25.8% year-on-year, signaling strong market trust in Beijing. In the first half, the city's private investment increased by 25.8% year-on-year. The government publicly recommended 123 major projects to private capital, with a total investment of 121.7 billion yuan, broadening investment opportunities for private investors. On the consumption side, the integration of culture, commerce, tourism, sports, and exhibitions continued to deepen. Trade-in policies drove sales of related goods exceeding 25.5 billion yuan. The city added approximately 200,000 square meters of new commercial space, with 483 new physical flagship stores opening. Box office revenue from performances grew by 20.9% year-on-year, adding vibrancy to the urban atmosphere.

The open economy reached new heights. Beijing was successfully designated as one of the first national service trade innovation development demonstration zones. The total value of imports and exports in the first half rose by 16.5% year-on-year, and six new multinational company regional headquarters were recognized. Inbound tourism continued to heat up, with the number of inbound tourists and tourism spending increasing by 32.6% and 39.8%, respectively. The "GO BEIJING" platform was launched, and the first online duty-free refund store opened, further highlighting the city's role as an international exchange center.

Public services for the elderly and children were intensified. Economic growth ultimately translates into improved livelihoods. In the first half, 79,000 new urban jobs were created, and the average surveyed urban unemployment rate was 4.1%. Residents' per capita disposable income rose by 4.8%, with stable employment and income providing a solid foundation for citizens' lives. Public service supply continued to strengthen. Investment in public service fixed assets grew by 25.3% year-on-year, with each investment transforming into accessible services for residents. Childcare subsidies totaling 710 million yuan were distributed, with 3,560 new affordable childcare slots added, raising the proportion to 72%. An additional 2,791 home-based elderly care beds were provided, and the rate of excellent student physical fitness exceeded 80%, enhancing the sense of gain for both the elderly and children.

In urban operations, the suburban railway city sub-center line's Beijing West to Liangxiang section began operation. The proportion of transfers within 50 meters of rail transit reached 92.3%, and the average road traffic index during peak hours in central urban areas dropped by 7.3% year-on-year. Urban renewal investment accounted for 23.5% of the city's total investment, with 533 elevators installed in old residential buildings. For the second half of the year, the report proposes accelerating the construction of an international science and technology innovation center, promoting the rollout of a new round of pilot reforms in Zhongguancun, and adding over 70,000 P of intelligent computing capacity throughout the year. It aims to improve the integration mechanism of culture, commerce, tourism, sports, and exhibitions, enhancing the efficiency of the "ticket economy." Key projects such as the new campus of North China University of Technology and the Fangshan campus of Xuanwu Hospital will begin construction. The city plans to add 15 maternity-friendly hospitals, research and release implementation opinions on deepening elderly care service reforms, and accelerate the enactment of comprehensive food safety local legislation.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10