The Beijing-Tianjin-Hebei region has witnessed remarkable economic growth over the past decade, with its gross domestic product (GDP) increasing by 90 percent to reach 10.4 trillion yuan (approximately $1.46 trillion) in 2023, according to data released on Thursday.
In an effort to move out non-capital functions, Beijing has shut down over 3,000 manufacturing companies and closed or upgraded nearly 1,000 markets and logistics centers over the past ten years, said Liu Bozheng, deputy director of the Beijing office overseeing the integration of the Beijing-Tianjin-Hebei region, during a press briefing on Thursday.
Signifying high-quality growth, the proportion of new business entities in Beijing’s high-end industries—including technology, commerce, culture, and information—among all new entities rose to 66.1 percent in 2023 from 40.7 percent in 2013, Liu added.
Over the past decade, enterprises from Zhongguancun, a national high-tech industrial development zone in Beijing, have established over 10,000 branches in Tianjin and Hebei. Additionally, Beijing-based companies have made 49,000 investments in the neighboring regions, totaling 2.3 trillion yuan.
As regional integration accelerates, the Beijing-Tianjin-Hebei area has expanded its transportation infrastructure to enhance connectivity. The region now boasts over 11,000 kilometers of railway lines—an increase of more than 30 percent since 2013—and nearly 11,000 kilometers of highways, up over 40 percent from 2013.
Reference(s):
cgtn.com
