Beijing’s Q1 economic output surpasses one trillion yuan with strong growth in tech, industry

Beijing's gross regional domestic product (GRDP) surpassed one trillion yuan in the first quarter of this year with a six percent year-on-year increase, setting a strong start to the year. 

Industry, information, and finance contributed around 80 percent of the growth, according to official data.

In the city's bustling central district of Chaoyang, an automobile intelligence supply chain enterprise has experienced significant growth since its inception five years ago. 

By optimizing software and algorithms, the company has been able to meet diverse customer demands while reducing costs. Its income in the first quarter saw a 50 percent increase year-on-year.

The number of specialized and sophisticated enterprises producing new and unique products like this company has reached around 8,000 in the city thanks to support from the municipal government.

This positive start is attributed to major industries including the automobile industry, where companies like Xiaomi and Li Auto have contributed over a billion yuan (about 140 million U.S. dollars) in industrial output value increases. 

The information software industry achieved a revenue growth of 21.5 percent with companies like Kuaishou and Meituan leading the way. 

The financial industry maintained stable growth, and other sectors also registered relative growth.

Industrial development has also benefited from initiatives put forth by local authorities, including the release of financial funds for advanced enterprises and schemes for the digitalization of manufacturing. Specialized services are now more accessible for major companies.

"By capitalizing on Beijing's strengths in scientific innovation and talent, we aim to seize the opportunities emerging from a new round of large-scale equipment replacement and trade-in programs. Leveraging national and regional policies, we will serve companies and propel a new engine of industrial development," said Wand De, director at the Economic Operation Department of the Beijing Municipal Bureau of Economy and Information Technology.

Meanwhile, emerging industries have seen notable performance improvements. The added value among industrial enterprises with annual business revenue over 20 million yuan (around 2.7 million U.S. dollars) grew by 12 percent, and the output of intelligent TVs, industrial robots, and integrated circuits all realized substantial growth. Investment in research and development has increased, with research and development expenses of the city's large and medium-sized key enterprises growing by 6.2 percent in January and February, an increase of 2.0 percentage points over the previous year.

Beijing’s Q1 economic output surpasses one trillion yuan with strong growth in tech, industry

A French student from the School of Chinese Language and Literature at Beijing Foreign Studies University recently called for more educational exchanges between the two countries.

During an interview with China Global Television Network (CGTN), Bouaoud Elies shared his experience living and studying in China.

After graduating from the business school at Beijing Foreign Studies University, Elies decided to stay in the country. He said he continues to study Chinese to improve his competitiveness and explore the huge trade opportunities between the two countries.

"I mean I love it here. I don't want to go back to France. I would like to become the bridge between France and China. So, if I can do this, thanks to the Belt and Road Initiative, the Silk Road, now the relations between France and China are very good. So, I think a lot of things will happen," he said.

Elies also said he hopes that more French students could visit China and develop a better understanding of the country.

France was the first major western country to establish full diplomatic ties with China, and the history of educational exchanges can be traced back more than a century and a half when China sent its students to France to study maritime affairs.

Since then, exchanges have deepened considerably.

"In China, we have established 14 French training centers. In France, we have established 19 Confucius Institutes. These institutions serve as bridges for mutual understanding and trust between the youth and people of the two countries, enhancing language and cultural connections," said Yang Dan, Director General of the Department of International Cooperation and Exchanges under the Ministry of Education.

French student calls for more educational exchanges with China