Gross domestic product (GDP) of Beijing, China 2013-2023

In 2023, the nominal gross domestic product (GDP) of the Chinese capital, Beijing, amounted to approximately 4.38 trillion yuan, compared to about 4.15 trillion yuan in the previous year. Beijing municipality is located in northern China, together with Tianjin and Hebei province it forms the Jing-Jin-Ji Metropolitan Region, which is the most important economic zone in northern China.

GDP development in Beijing

After the initiation of the reform era in 1978, Beijing experienced an unprecedented phase of economic growth. GDP growth rates displayed double digits for most of this period, especially in the years between 1992 and 2008. Beijing’s growth rates closely resembled national Chinese figures but were slightly higher on average. Interrupted by the global financial crises in 2008, economic development slowed down in the years following. Per capita GDP in Beijing displayed a similar development, and per capita disposable income crossed the 10,000 U.S. dollar threshold in 2020. This was one of the highest values for disposable income among municipalities and provinces in China. Real growth rates of per capita disposable income were slightly lower than GDP growth, but still indicated a robust improvement of people’s income in recent years.

GDP sector distribution

As the capital city of China, Beijing’s economy has always been comparatively service oriented. The share of the service sector in terms of GDP reached nearly 85 percent in 2023, which was the highest value of all cities in China. The relocation of parts of the manufacturing industries to neighboring districts in order to improve air quality and the congestion level of the city’s infrastructure is further contributing to this development. Economic sectors that are of great importance to the city and were promoted by the municipal government in recent years are financial intermediation, IT services and scientific research and development.