On April 20, a press conference on Beijing's economic performance was held. Beijing's GDP reached CNY 994.77 billion, with a year-on-year increase of 3.1 percent at constant prices in the first quarter (Q1) of 2023, which means 2.4 percentage points higher than the growth rate of the previous year, according to the press conference. 

[Photo via tuchong.com]

In terms of different industries, the value added of the primary industry was CNY 1.47 billion, up by 2.3 percent; that of the secondary industry reached CNY 122.81 billion, down by 6.0 percent; and that of the tertiary industry hit CNY 870.50 billion, a growth of 4.6 percent.

Zhu Yannan, Deputy Director of the Beijing Municipal Bureau of Statistics, said that the capital showed a generally positive economic recovery in Q1, with people's livelihood well secured and the quality of development continuously improved. However, she added that given the still complicated and severe international environment with many uncertain factors, and the relatively prominent problem of insufficient domestic demand, the impetus for economic recovery needs to be further boosted. 

(Source: The Beijing News)