Beijing’s GDP is expected to break the 1-trillion-yuan mark (US$146.2 billion) this year, boosted by its hosting of the Olympic Games. The GDP of China’s capital city reached 900.6 billion yuan (US$131 bn) in 2007, up 12.3% over a year earlier and twice that of 2001 when it won the bid to host the Games.
Shanghai’s GDP hit 1.2 trillion yuan last year and the affluent Chinese financial center has managed to maintain double-digit growth for 16 consecutive years. Beijing’s annual GDP growth was 12.4% on average over the past six years.
In the first six months of 2008, the Beijing Statistics Bureau (BSB) reported that the city’s GDP reached 497.3 billion yuan (US$72.6 bn) , up 11% from the same period last year. BSB forecasted the Olympic factor, which refers to the impetus generated by investment in infrastructure and sports facilities, would add 0.85% to Beijing’s GDP growth this year.
In 2007, about 4 million transients (staying in Beijing for more than half a year) contributed 240 billion yuan of the city’s total GDP . Taking them into account, the per-capita GDP in the national capital was 56,000 yuan (US$7,654) last year, more than double 2001′s figure of US$3,262.
Disposable income per capita last year grew by 10% for urban residents to 22,000 yuan (US$3,030 dollars), and 8% for rural residents to 9,500 yuan (US$1,308 dollars). Beijing’s GDP per capita is expected to surpass US$8,000 this year.
