Beijing is the political, cultural and economic center of China, and the most dynamic and competitive regions of the country. Beijing is bustling global metropolis ranked No. 1 in terms of economic clout.
Beijing is the center of the Bohai Economic Rim which is an economic zone ranging from Beijing, Tianjin, Heibi, Shandong Peninsula, Shanxi and parts of Inner Mongolia. Beijing’s strategic geographical location and advantages include its rich natural resources and a close proximity to both land and overseas shipping routes.
Beijing has solid industrial base with strong economic features and fundamentals. The city’s economy has had a sustained growth rate for many years and has made smart investments into industry and innovation. The city’s GDP was 1.6 trillion Yuan or US$247.7 billion in the year 2011 which ranked 13th at the national level which was a 15.2 per cent rise over the previous year. The figure exceeded Finland’s figure of US$238.8 billion in 2010, which ranked 34th in the world, as per figures of the World Bank. The city’s revenue was 435.9 billion Yuan (US$69.2 billion) in 2011 that was 14.4 per cent increase over the previous year.
Beijing is continuing financial, information, transportation and logistical upgrades in areas as electronics, automotive, optical-electromechanical integration, biological engineering, bio-medicine and environmental protection equipment. The city’s per capita gross domestic product increased to 81,658 Yuan (US$12,962) in 2011 from 73,856 Yuan (US$11,723) in 2010.
The social fixed-asset investments totalled 591.1 billion Yuan (US$93.8 billion) in 2011 which was a 7.6 per cent increase. Investments into real estate rose to 303.6 billion Yuan (US$48.2 billion), an increase of 10.1 per cent. The imports and exports value rose by 29.1 per cent touching US$389.6 billion. Out of the total, about 6.5 per cent, i.e., US$59 billion came from exports.