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Beijing H1 GDP Up 5.4%, Retail Flat

CHINA PRESS

Beijing municipality saw GDP growth of 5.4% in H1, as total retail sales of consumer goods remained flat y/y, and catering revenue reached CNY63.71 billion, down 3.5% y/y. Industry insiders said restaurant competition may intensify in H2 leading to lower profits, with more mid- to high-end eateries launching low cost options. Industrial value added grew 7.1% y/y, with output of EVs, wind turbines, integrated circuits and industrial robots increasing 350%, 66.1%, 13.2%, and 12.4%, respectively. (Source: 21st Century Herald)

MNI Beijing Bureau | lewis.porylo@marketnews.com

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