During the 14th Five-Year Plan period, Beijing achieved new breakthroughs in high-quality economic development despite facing impacts from the pandemic and other challenges, with total economic output expected to exceed 5 trillion yuan. Zhang Xin, Deputy Director of Beijing's Development and Reform Commission, responded at this morning's press conference that during the 14th Five-Year Plan period, Beijing's economy demonstrated strong resilience and great potential, with solid foundations and sufficient vitality, charting an upward trajectory amid sustained pressure.
In terms of consumption, during the first four years of the 14th Five-Year Plan, a batch of high-quality commercial facilities totaling over 5 million square meters were put into operation, equivalent to the area of 25 Xidan Joy City shopping centers.
Looking at Beijing's top three pillar industries in the national economy, the information services industry's added value exceeded 1 trillion yuan, becoming the city's largest pillar industry with scale ranking first nationwide. Since launching the construction of a global digital economy benchmark city, the information services industry has maintained a pace of crossing at least one hundred-billion-yuan threshold annually. The financial industry's asset scale exceeded 220 trillion yuan, accounting for approximately half of the national total, with the national financial management center function continuously strengthened, and financial "five major articles" providing strong support for real economy development. The manufacturing industry has optimized toward new sectors and climbed toward high-end, with 165 major industrial projects in integrated circuits, new energy vehicles and other sectors landing and taking effect. In 2024, integrated circuit production increased by 51.2% compared to 2020, and the new energy penetration rate in the automotive market's incremental portion exceeded 50%.
During the 14th Five-Year Plan period, Beijing coordinated the expansion of domestic demand with deepening supply-side structural reform. It is expected that total market consumption will exceed 3 trillion yuan in 2025, and fixed asset investment scale will break through 1 trillion yuan.
New consumption highlights have emerged competitively, with trendy toys, sports events, and concerts igniting consumption vitality. In 2024, the city held nearly 2,000 large-scale events, averaging 5 events per day. Service consumption grew at an average annual rate of over 7.5% in the first four years, becoming the main engine driving consumption. High-quality commercial facilities including Super Mega Heshenghui were put into operation with total area exceeding 5 million square meters, equivalent to 25 Xidan Joy City centers. The city built 764 15-minute convenience living circles serving over 3,200 communities, making nearby consumption more convenient for residents.
"Currently, we are fully implementing the city's special action plan for deepening reform and boosting consumption, continuously enhancing consumption capacity, improving consumption conditions, innovating consumption scenarios, and working to unleash the consumption potential of our super-large-scale market," Zhang Xin said.
New investment momentum continues to be released. Beijing's high-tech industry investment proportion increased from 9.5% in 2020 to 22.6% in 2024, reaching a historical high. Today's investment will become tomorrow's "competitiveness." Urban renewal is accelerating, with the Workers' Stadium renewed and reopened, and urban renewal exemplars like Shougang Park and Liangma River becoming popular check-in destinations, creating more happiness spaces around residents.
"During the 14th Five-Year Plan period, our investment has been directed toward future development, urban governance, and a better life," Zhang Xin said.
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