Chinese capital Beijing's per capita gross domestic product (GDP) hit US$3,000 for the first time, a sign that the city's economy has developed into a new stage, according to the city's conference on economic work, which began on Friday.
Statistics show that the city's GDP is expected to reach 281.7 billion yuan (US$35.2 billion) by the end of this year, up 11 percent compared with last year, continuing the double-digit economic growth for three years running.
In the first 11 months of the year alone, the city saw an industry profit growth of 7.4 percent, compared with the same period of last year.
In addition, the city has completed the whole year's economy development plan two months ahead of schedule. It is expected that citizens' disposable income will increase by 8 percent, while farmers' per capita pure income will hit 5,000 yuan (US$625) at the end of this year.
The municipal government has also made great progress in housing reconstruction. Areas where housing has been demolished and citizens have been relocated are around 3.7 and 3.6 times that of last year, respectively.
Sources from the municipal government said that the great economic accomplishments were achieved through implementing the city's policy of expanding investment, consumption and export.
Statistics show that fixed-asset investment this year reached 151 billion yuan (US$18.9 billion), up 16.4 percent.
(Xinhua News Agency December 24, 2001)
