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Beijing economy firms up in H1

By Cai Xiao | | Updated: 2017-07-19 17:39

Beijing's economy firmed up in the first half of 2017, benefiting from the steady development of the service industry and booming scientific and technological innovation, according to information released by the Beijing Municipal Statistics Bureau today.

Beijing's gross domestic product (GDP) expanded 6.8 percent year-on-year in the first half to 1.2 trillion yuan ($177.6 billion). The service sector expanded 7.2 percent year-on-year in the first six months, outpacing a 1.4 percent decrease in primary industries and 5.1 percent increase in secondary industries.

Pang Jiangqian, the bureau's spokeswoman, said the production value of Beijing's high-technology industries accounted for 23.7 percent of the city's total GDP in the first half. Research and development fees of large and medium enterprises in the first five months increased 5.1 percent year-on-year. There were 11,000 new high-tech enterprises established in Zhongguancun High-Tech Park from January to May, increasing 84.7 percent year-on-year.

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