On July 26, Beijing revealed its two-year progress in developing itself into an international consumption center city. During this period, Beijing leveraged its advantages as China's capital, improved its consumption environment, and continuously enhanced the pivotal role of consumption in economic growth. In 2022, the added value of Beijing's service sector reached CNY 3.5 trillion, with the total revenue of the tourism sector amounting to CNY 252 billion and the proportion of online retail sales of above-quota products accounting for 39.8 percent of the total retail sales of social consumer goods, all ranking first nationwide.

The number of Beijing's consumption brands continues to increase, with 3,322 first stores set up in Beijing since 2019, putting Beijing in the "top echelon" nationwide in this regard. At the same time, by optimizing and adjusting the criteria for accrediting foreign-funded enterprises as regional headquarters of multinational companies, Beijing has attracted high-quality brand resources from across the globe. Since 2021, it has accredited 13 regional headquarters of multinational companies in the consumption sector.

In terms of international recognition, Beijing is home to 54 Fortune 500 companies and seven World Cultural Heritage sites, all ranking first among cities around the globe. The city also houses 217 regional headquarters of multinational companies and 78 4A and 5A-level scenic areas, not to mention that a total of 18 international sports events took place in Beijing in 2022 alone, all ranking second among all Chinese cities.

When it comes to commercial vibrancy, Beijing has 161 four-star or higher-rated hotels and a total of 1,044 tax refund shops for outbound travelers, helping the city earn the top spot among its domestic counterparts. As for accessibility, in 2022, Beijing has 105 international air routes connecting it to 86 cities. The length of the city's rail transit network totaled 1,172 kilometers, ranking first nationwide.

(Source: Beijing Daily)