Beijing booms in industrial sector

The added-value of Beijing's industrial businesses surged by 19.9 percent year on year to reach 125.95 billion yuan (15.22 billion US dollars) last year, a local industrial official said Monday.

Cheng Lianyuan, director of the city industrial promotion bureau, said local post-tax industrial profits reached 26.67 billion yuan (3.22 billion US dollars) in the first 11 months last year, a year on year rise of 39.7 percent.

The fixed assets investment in the industrial sector totaled 20.58 billion yuan (2.48 billion US dollars) last year, edging up by 53.7 percent on a yearly basis. Beijing's industrial sector used 970 million US dollars in foreign funds, a year on year rise of 46.6 percent and accounting for 35.4 percent of the total foreign funds used in the city last year, Cheng told a meeting to sum up Beijing's industrial development last year.

Electronics information, auto industry, electro-mechanical and bio-medicine industries contribute 53.9 percent of the city's total industrial growth.

Deputy mayor Lu Hao said, Beijing will pay attention to developing more industrial products with independent intellectual property right, improving intensive management and developing energy-saving and water-saving industries.

Beijing has set it a target to achieve a year on year rise of 10 percent in industrial value this year. Total industrial input will reach 28 billion yuan (3.38 billion US dollars) this year.