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Beijing's GDP up 7% in Q1

Apr. 24, 2012 (China Knowledge) - China's capital city Beijing saw its gross domestic product grow 7% year on year to RMB 376.15 billion in the first quarter of this year, according to the latest statistics released by the Beijing Statistics Bureau.

The growth rate was 1.1 percentage points lower than the national average.
Value-added output in the primary industry rose 1.1% year on year to RMB 1.73 billion, and that in the secondary sector grew 5.6% year on year to RMB 83.37 billion. The tertiary sector generated RMB 291.05 billion in the period, 7.4% more than in the same period of 2011.

The city's value-added industrial output increased 4.8% year on year to RMB 71.09 billion in the first quarter.

The bureau said that the slowdown in local economy was in part due to the city's control over the property sector and its restrictions on auto consumption.

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