Report: Beijing resumes economic development after SARS
( 2003-10-10 21:14) (Xinhua)
Beijing's economic development has recovered to the normal level and the
effects of severe acute respiratory syndrome (SARS) on the economy have almost
gone, said the Beijing Statistics Bureau on Friday.
Bureau spokesperson Yu Xiuqin told a press conference that Beijing's economy
has achieved a 10 percent growth during the first nine months of this year and
the major economic indexes have returned to the normal level.
The official statistics indicate that as of September the added industrial
value reached 72.72 billion yuan (US$8.76 billion), representing a year-on-year
increase of 12.3 percent. Fast growth was also obtained in the fields of
telecommunications, manufacturing, oil refineries, metallurgy and the auto
business was especially flourishing, contributing as much as 47.2 percent of the
industrial value increase.
Individual consumption was also revived. During the January- September
period, the total retail revenue rose to 138.61 billion yuan (US$16.7 billion),
up 13.7 percent. Consumers spent mainly on cars, building materials and
communication devices. Among them, 192,000 automobiles were sold in Beijing, up
38.4 percent from last year.
Meanwhile, the investment in fixed assets was roughly 131.44 billion yuan
(US$15.8 billion), up 20.2 percent.
In spite of the encouraging figures, the spokesperson also expressed concerns
about some aspects of the economy. The economic development of Beijing was slow
compared with some other cities like Shanghai, Guangzhou and Chongqing. The
service sector and tourism remain sluggish, said the spokesperson.
As of September, Beijing had accommodated 1.17 million overseas tourists this
year, down 48.1 percent from last year.
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