Beijings New Economies and Driving Forces Ascend Against the Trend in H1, with 25 Listed on the Science and Technology Innovation Board

Source:Organizing_Committee    |      Date:2020-07-31    |      Hits:

  On July 29, the 23rd meeting of the Standing Committee of the 15th Beijing Municipal Peoples Congress heard the Report on the Implementation of the 2020 National Economic and Social Development Plan of Beijing in the First Half of the Year. According to Tan Xuxiang, Director of the Beijing Municipal Commission of Development and Reform, Beijing’s GDP fell by 3.2% in H1, and the decline narrowed by 3.4% from Q1. The new economies and driving forces ascended against the trend, which reflected that the resilience and resistance to risks of the capital’s economy have been further strengthened.

  Data shows that Beijings key industries formed effective support. Industrial production recovered rapidly as in H1, the added value of industrial enterprises above designated sizes fell by 3.7% year-on-year, and the decline narrowed by 11% from Q1. The great demand for displays and integrated circuit products has driven the electronics industry to grow by 15.2%. In H1, the added value of the financial and information industries increased by 5.7% and 8.3% respectively. 25 companies from Beijing went listed on the Science and Technology Innovation Board, receiving a financing amount of RMB 43.136 billion.

  Beijings new infrastructure construction is accelerating. In H1, 5,135 5G base stations were newly opened, increasing the total number to 22,500. The top nodes of the national industrial Internet identification analysis were launched on-line and 14 secondary nodes were commissioned. By the end of the year, 13,000 additional 5G base stations will be built to achieve continuous coverage within the Fifth Ring Road and the urban sub-center, and will bring extra 50,000 gigabit fixed-line network subscribers. At the same time, Beijing will speed up the construction of a highly reliable private network with low latency that can support autonomous driving operations above the L4 level, and start the construction and transformation of vehicle-road collaborative information facilities in the autonomous driving demonstration zone.


  (Picture source: Beijing Daily)

  In the second half of the year, Beijing will actively promote the construction of the National Industrial Internet Big Data Center, the Zhongguancun Industrial Internet Industrial Park and its Pilot Park, and the National Beidou Innovation Application Comprehensive Demonstration Zone, and accelerate the integration of new technologies such as Beidou and artificial intelligence, and advocate the application of non-precipitation construction, intelligent security inspection, Beidou navigation and other technologies in rail transit projects. The city sub-center, "Three Cities and One Area", the Winter Olympics, Beijing Daxing International Airport, etc. will introduce a series of demonstration organization designs for major application scenarios.

  (Picture source: Zpark, official WeChat account of Zhongguancun Science Park)

  At present, as a new round of scientific and technological revolution and industrial transformation are booming vigorously, and the change of the manufacture industry toward servitization and the service sector toward digitization is accelerating, service weighs more and heavier in the global value chain. Thus, service trade investment and cooperation has become an important engine for global economic growth. According to the 2019 report of the World Trade Organization, the share of service trade in global trade has increased from 9% in 1970 to the current 20%. By 2040, this proportion is expected to rise to one third.

  The 2020 China International Fair for Trade in Services (the 2020 CIFTIS) will be held in Beijing in September with the theme of "Global Services, Shared Prosperity”. As the capital of China, Beijing has taken the lead in developing a service-oriented economy, with the added value of the service sector accounting for more than 80% of the regions GDP and about one-fifth of the countrys total trade in services.

  Beijing has established trade relations with more than 200 countries and regions, with more than 1,000 service companies having achieved multinational operations, and the number of Fortune 500 companies headquartered here ranking first in the world for six consecutive years, and the development features of globalization, high-end, clustering and integration increasingly emerging.

  Beijing is the only comprehensive pilot city for expanding the opening-up of the service industry in China. Since the approval and implementation of the Overall Plan of Comprehensive Pilot Program for Expanding the Opening-up of the Service Industry in Beijing in 2015, Beijing has successively launched 3 rounds of pilot programs, 403 pilot tasks, and 35 opening-up measures. 122 opening-up innovation achievements have been formed, and six batches of Beijing innovation experience have been promoted to the whole country or pilot free trade zones.