Beijing's GDP Grows 300 Times over the Past 60 Years

Anchor: Beijing's gross domestic product has increased more than 300 times over the past 60 years, according to the capital city's statistics authority. Last year, Beijing's GDP jumped over one trillion yuan, or some 150 billion Us dollars, which marks a new high in the city's steady growth since the founding of the People's Republic of China. Our reporter Shuang Feng has more.

Seventy-seven-year-old Liu Guixian is a witness of the great changes taking place in the capital city. The difficult days are etched in her memory.

"It was tough, indeed, back then. We had five children; however, the family's income was meager to bring enough food and clothing. In winter time, seven of us had to share only two quilts. It was freezing cold."

Life has started to look up for Liu Guixian and her family since China introduced the reform and opening up policy. Liu opened a restaurant and the family's income began to increase. Now she owns country land and enjoys retired life.

Figures from the Beijing Statistics Bureau shows the city's GDP in 2008 reached more than one trillion yuan, 318 times the number in 1952. With more income at people's disposal, changes are also taking place in their consumption patterns.

Yu Xiuqin, deputy director of the Beijing Statistics Bureau, explains.

"People's consumption patterns have started to change as they have had income. For instance, people's demands have grown for housing, travel, telecommunication and education. Beijing is in its best time of the 60 years with fast and steady growth. It inevitably helps improve the local lives."

Beijing's booming economy has attracted worldwide attention. The city's foreign trading volume reached more than 80 billion US dollars last year, nearly 300 times the figure 60 years ago. The capital city of China is becoming a world class city catching the attention of an increasing number of international visitors.

Xu Kang is spokesman of Beijing Municipal Bureau of Commerce.

"More than 30 thousand foreign-funded companies have registered in Beijing by the first half of the year. Beijing offers good opportunities for big international retailers as an international metropolis. We believe there will be more foreign business choosing Beijing in the future."

Beijing has been listed among the world's top 15 shopping cities by Forbes as the city managed to attract over 200 world retailers to open stores in the first half of 2009.

Shuang Feng, CRI news.