Home> Statistics

​Beijing E-Town economy continues to improve in first three quarters

Updated: 2023-10-30

Recently released economic data for the first three quarters in Beijing E-Town shows that the area’s economy has been growing steadily.

As regards industrial development, in the first three quarters the industrial output value in E-Town New Area reached 402.8 billion yuan ($55.05 billion). 

Among the four major leading industries, in the first three quarters, the high-end automobile and new energy intelligent automobile industries achieved an output value of over 170 billion yuan, the next-generation information technology industry exceeded 93 billion yuan, and the robotics and intelligent manufacturing industry reached an output value of 53.11 billion yuan, all showing year-on-year growth. 

It's worth mentioning that the robotics and intelligent manufacturing industry saw a 3.2 percent year-on-year growth.

In terms of high-end industries, not only did leading companies like BOE, NAURA, and Goldwind Technology perform well, but small and medium-sized enterprises also demonstrated strong growth potential, with many companies reaching their peak product delivery periods.

In the field of biotechnology and the health industry, efforts are being made to find new growth opportunities and the decline in output value is narrowing month by month. 

This year, Beijing E-Town has announced three policies: a three-year action plan to create an "intelligent manufacturing of new medicines" industry hub and "1+2" policies to promote the high-quality development of the pharmaceutical and health industry. 

Apart from output value, various indicators in the wholesale and retail industry, information services, technology services, and construction sector in the area performed impressively in the first three quarters.

In particular, the wholesale and retail industry is recovering at a faster pace, with sales reaching 280.4 billion yuan in the third quarter alone, ranking third in the city in terms of total sales and showing a growth rate 3.7 percentage points higher than the city average. 

The advantages of the automotive industry, coupled with government incentives like automobile consumption vouchers, have led to a revival in Beijing E-Town's automotive sales, triggering a surge in the consumption of new energy vehicles such as Tesla and Arcfox. 

Innovative services provided by businesses are creating additional growth potential. Data show that the technology services industry generated 16.74 billion yuan in the third quarter, a year-on-year growth of 12.8 percent, while the information services industry reached 64.3 billion yuan in the first three quarters, a year-on-year growth of 16.3 percent.