Initial statistics show that during the first three quarters this year, Beijing municipality realized a GDP of 354.2 billion yuan, an increase of 10.5 percent year-on-year, and 1.1 percentage points higher than the nation's overall economic growth rate.

The rate, close to the municipality's ten-year average of 10.7 percent, shows Beijing is still on a track of fast growth, said Yu Xiuqin, spokesperson of Beijing Municipal Bureau of Statistics at a press conference on October 20.

In the first three quarters, industries (or industrial enterprises) above the designated scale of Beijing realized added-value of 127.34 billion yuan, a year-on-year growth of 13.2 percent, which includes a basically stable production of automobiles.

A total of 442, 000 automobiles were produced in the first three quarters, 12.1 percent more than one year earlier. 166, 000 cars were produced with a year-on-year increase of 72.8 percent.

A stable development has been seen in key sectors of modern service industry. In the first three quarters, information transmission, computer service and software industry as well as finance sector saw a year-on-year growth of 11.3 percent and 8.8 percent in their added-value respectively. The figure for the real estate sector is 17.1 percent, 0.5 percentage points lower than the first half-year.

The growth rate of investment in the property industry continues to cool down. In the first three quarters, 90.85 billion yuan of real estate investment was completed, 4.4 percent up from the same period last year. Its ratio to the total investment in fixed assets drops to 53.4 percent from last year's 57.1 percent.

By People's Daily Online