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High-quality service industry leads Beijing's economic growth

Daily life that occurs around the citizens, such as placing take-away orders through a mobile phone, going to the theater, buying a car by installments, and seeking legal advice, constitutes the service industry. Dribs and drabs of life trivial form a vast industry. In the era stressing reduced-quantity development, the modern service industry covering finance, technology, information, cultural creativity, and business services has become a strong driving engine for Beijing's economic growth.   

  
It's learned from the Municipal Development and Reform Commission, Beijing's service industry in 2018 has maintained a smooth and rapid development and continued to expand in scale, resulting in the added value of the service industry increasing by 7.2% in the first three quarters, surpassing the growth rate of GDP by 0.5 percentage points, and contributing to more than 80% of both the GDP and the city's economic growth, in specific, 82.3% and 84.7%, respectively.  


Added values of four major industries accounting for 50% of GDP.
From the bigger 3D printing robots to the smaller thumb speakers, all best sellers are filled in the exhibition hall of XBN Cross-border E-commerce Platform from Daxing District. The cross-border e-commerce platform, established four years ago for export businesses, mainly helps domestic companies sell their products abroad. The cross-border e-commerce platform, established four years ago for export businesses, mainly helps domestic companies sell their products abroad. Wang Wei, Vice President of XBN Cross-border E-commerce Platform, said that "You can publish domestic product information to 75 e-commerce sites in 45 countries with one click."


"If you compare XBN to a newborn, then his first cry was heard in the 2014 China Beijing International Fair for Trade in Services (CIFTIS), where it showed its cross-border e-commerce and utilized it as starting point for further expansion," Liu Yin, CEO of XBN Cross-border E-commerce Platform, told the media in an interview. As the world's largest platform for trade in services and open cooperation, CIFTIS has been successfully held for five sessions, and also helped a number of domestic emerging companies similar to XBN to grow.


XBN-like information service providers offering tailored solutions to product outlet for small and medium-sized foreign trade enterprises are becoming the new protagonists of Beijing's modern service industry. Many people consider the service industry nothing but traditional services including accommodation, catering, commerce and trade, and real estate. The responsible officer of the Municipal Development and Reform Commission said that in fact, Beijing's service industry has been significantly upgraded over the years, during which modern services such as finance, technology, information, cultural creativity and business, dominate the industrial structure.


Statistics have fully demonstrated this point. In the first three quarters of 2018, the total added value of the four sectors, including finance, technology, information and business services, has accounted for 48.6% of GDP and contributed to 63.4% of the city's economic growth. In other words, the contribution of these 4 sectors, totaling RMB860 billion, equals to nearly half of the city's total GDP of RMB1.76968 trillion over the first three quarters in 2018.


More than 400 mass entrepreneurship and innovation service organizations
"At last, there is no more need to go around the sun to meet the moon," said a medical equipment startup company in Changping, which had to travel far to a laboratory in Tianjin for electromagnetic compatibility testing before new product launch. Today, with the help of the one-stop technology innovation and quality improvement service platform from Renrenlab, this company is pleased and surprised to find that there are at least five nearby laboratories that can carry out such tests. It not only saves the pain of going to Tianjin, but also makes it possible to make an appointment for tests at home at any time, as if the company owns a laboratory, which is quite convenient.   


Beijing is a hot spot for innovation and entrepreneurship, where more than 200 technology companies on average are registered every day. Many companies need to do a lot of experiments during research and development, however, the construction of a laboratory consumes enormous investment and time, which is unbearable for SMEs. On the other hand, many laboratories and equipment in Beijing are not efficiently used.


Therefore, some industries that specialize in providing services for business innovation are booming. Renrenlab is one such company, combining rarely used instruments and laboratories in various industries, and serving SMEs through Internet technology and shared economic models for their technological innovation, R&D cost control and R&D efficiency improvement. Ding Baisuo, the person in charge of Renrenlab, said that the company now covers over 5,000 professional laboratories, serving more than 10 industry sectors such as biomedicine, electronic information, intelligent manufacturing, and artificial intelligence. Sci-tech finance, "Internet +", entrepreneurial services, cross-border e-commerce, human resources services and other service industries have achieved remarkable results in recent years. The responsible officer of the Municipal Development and Reform Commission cited a series of figures, indicating that the Zhongguancun Internet Financial Innovation Center has gathered more than 950 Internet financial institutions, with over 400 mass entrepreneurship and innovation service organizations and thousands of human resources service institutions. As new models and new formats keep emerging, the service industry rooting in innovative development has become a new growth point for the city's services.    


Convenient commercial outlets covering all six districts of the city
In addition, commercial, educational, medical, cultural and other services closely concerning public lives get widely distributed, leading to more equalized public services.


Providing services covering breakfast, vegetables, dyeing, beauty salon, pharmacy, ticket sales, mobile phone repair... commercial complex for life convenience locating on the north side of Wanliu Bridge in South 3rd Ring of Fengtai District has been operating for months, whose "one-stop" service mode can satisfy whatever the public need in daily life and improve the life quality of residents in Wanliuyuan Community, winning compliments from over 6,000 households around the area. According to statistics released by the Municipal Development and Reform Commission, the city has established more than 1,500 basic commercial convenience outlets for providing vegetables and breakfast services in 2018, and outperformed the planned tasks, achieving full coverage in the city's six districts. Public cultural demand, such as going to the library for books and enjoying dramas in the theater, is becoming available as public cultural service facilities have gradually completed. Data shows that the city has built a four-level public cultural service system covering cities, districts, townships (sub-districts) and administrative villages (communities), constructing more than 7,100 public cultural facilities, with coverage reaching nearly 99%. The 15min public cultural service circle makes citizens' cultural consumption more convenient and more prosperous.


In recent years, Beijing has rooted itself in the strategic positioning of "Four Centers" and accelerated the cultivation of modern services, such as finance, technology, information, culture, creativity and business service, in which the business service industry has become an important part of developing Beijing's high-tech economic structure. During the 5th CIFTIS, the responsible person of Beijing Municipality stated that the development of Beijing's business service industry can be characterized by its distinctive headquarters economy, rapid growth of high-end business services, and evident comparative advantages over the other regions in China. In the future, Beijing will inject new vitality into sustainable and healthy development of the business service industry through service innovation, format innovation and model innovation; it will gradually establish a standard and regulatory system for the business service industry, and adhere to higher standards; the city will also actively integrate into national development strategies, and further play the role as radiation belt of Beijing's expansion and opening-up in the service industry.