Beijing Reports 10.4pct GDP Growth in First Five Months

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Last updated at: (Beijing Time) Tuesday, June 10, 2003

Beijing Reports 10.4pct GDP Growth in First Five Months

The Beijing Municipal Bureau of Statistics announced Monday that the city's gross domestic product for the first five months hit 120 billion yuan, or about 14.5 billion US dollars, an increase of 10.4 percent year on year.

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China's capital of Beijing has weathered the worst of the SARS outbreak in May to achieve two-digit economic growth for the first five months.

The Beijing Municipal Bureau of Statistics announced Monday that the city's gross domestic product for the first five months hit 120 billion yuan, or about 14.5 billion US dollars, an increase of 10.4 percent year on year.

The figure for May reached 25.42 billion yuan (US$3.1 billion), a 4.8 percent increase year on year, according to figures released by Beijing Municipal Bureau of Statistics on Monday.

A statistics bureau spokesman said though the negative impact of SARS had begun emerging, the momentum of fast growth in Beijing's economy would not be reversed. He said it was still possible for Beijing to attain its goal of a nine percent economic growth this year.

Statistics show Beijing's tertiary industry was seriously hit by the SARS epidemic, with its added value increasing a poor 0. 1 percent in May, 10.4 percentage points down from the previous month.

Only about 18,000 tourist arrivals from home and abroad were reported in Beijing during May, a sharp drop of 93.9 percent year on year.

However, the manufacturing sector became the major driving force fueling Beijing's economy in May, with total industrial added value reaching 7.9 billion yuan, up 13 percent from a year earlier.

The high-tech industry registered an industrial added value of 11.55 billion yuan (US$1.4 billion) from January to May, an increase of 13.9 percent year on year.

Despite SARS, Beijing still saw strong growth in its industrial exports, which totaled 14.96 billion yuan (US$1.8 billion), up 31.8 percent on a yearly basis.

In May alone, industrial exports grew 52.3 percent year on year, 19 percentage points faster than in April.

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