 Beijing is the capital of the People's Republic of China; a historical and cultural Mecca for Chinese the world over and a city built more than 3,000 years ago, which also was the ancient capital of the Liao, Jin, Yuan, Ming and Qing dynasties. Since 1949, Beijing has served as the center of China's political, commercial and cultural life and boasts of some of China's most famous tourist attractions including the Great Wall, the Forbidden City and the Summer Palace. There is hardly a square meter of Beijing that has not been touched by some of China's most historic events.
Now, with its Zhongguancun Science and Technology Park, the country's "Silicon Valley"; its Beijing Central Business District (CBD) and Financial Street, which both host a cluster of the world's most distinguished multinational corporations and financial institutions; and with the 2008 Beijing Olympics-inspired Olympic Central Zone, Beijing is again returning to the forefront as a major world capital and a capital of advanced industry and commerce.
Beijing is rapidly developing its commercial and service facilities and enterprises to meet the standards of a modern cosmopolitan city. It features many shopping compounds with comfortable shopping environments where people are able to enjoy delicacies of any kind of Chinese cuisine, as well as food from around the globe. Retail sales and catering revenue for consumer goods and food in Beijing reached 290.28 billion RMB in 2005.
Beijing is the home base of the Communist Party of China (CPC) and the country's central political and military organs and is also the headquarters for many of the country's large national corporations, industrial associations and financial institutions. It is a national financial decision-making and macroeconomic-control center, with opportunistic market potential, convenient infrastructure, high levels of science and technology and rich human resources. One hundred and twenty-six countries and/or regions have established over 20,000 foreign investment projects in Beijing, including projects undertaken by 190 of the world's Fortune 500 companies.
Beijing is located in the heart of the Bohai Sea Rim, an area experiencing the most rapid economic development in China. Adding to the city's pulse, are the preparations for the 29th Olympic Games, which will begin August 8, 2008, in Beijing. The Games are a socioeconomic and business development opportunity for Beijing, for China and for the world.
In 2006, the gross domestic product (GDP) of Beijing totaled 772 billion RMB, with the primary industries contributing an industrial added value output of 9.8 billion RMB to GDP, the secondary industries contributing 221.7 billion RMB and the tertiary sector experiencing continued growth with an output of 540.5 billion RMB.
Economic Contribution Ratios by Sector
In 2006, the economic contribution ratio of the primary industries including agriculture, forestry, animal husbandry and the fisheries, represented 1.3% of GDP; the economic contribution ratio of the secondary and value-added industries and construction represented 28.7%; while the economic contribution ratio of the tertiary sector represented 70%.
Composition of GDP (%)
Foreign Trade Overview
In 2005, Beijing's trade volume reached US$158.18 billion, with export volume of US$37.98 billion and import volume of US$120.2 billion. Exports included US$17.28 billion worth of electro-mechanical products and US$12.91 billion in new and hi-tech products. From January to July 2007, growth rates for Beijing's four major exports were all over 60%. Beijing's largest export market is the EU, while ASEAN has surpassed Japan and the US to become the second largest export market for Beijing.
Foreign Trade and Cultural Ties
Beijing continues to enhance its cooperation and communication with other countries and districts in the areas of trade, science and technology, education and culture. Communications between the government and various non-governmental associations and social groups are frequent, forming the basis for multi-faceted and multi-level market, societal and business reforms in a wide range of areas. Beijing has set up sister city relations with 39 cities around the globe and there are over 26,000 students from foreign countries studying in Beijing.
Beijing's Sister Cities
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