Beijing's GDP Tops RMB 4 Trillion, Here Are Some Key Numbers to Know

The capital’s gross domestic product topped RMB four trillion (USD 630 billion) for the first time in 2021, according to China Daily.

Looking at a list of countries with the highest forecasted GDP in 2021 (full figures aren't out yet), this would make Beijing the world's #24th largest economy if it were a country – ranking above entire countries such as Sweden (USD 622 billion), Belgium (USD 582 billion), Thailand (USD 546 billion) and Nigeria (USD 480 billion).

Also surprising during this era of Covid-19, rising costs of doing business and a rumored expat exodus is that the number of foreign-funded enterprises in the capital grew 50 percent compared to 2020, with Chaoyang District seeing the biggest growth in this area – with 658 foreign-funded businesses popping up in Beijing's most international district between Jan to Nov last year.

This is thanks to the district's strong policy support for enterprises, as well as exploration into wholly foreign-owned vocational training and education centers and hospital projects – the two biggest examples being the University of Hong Kong Beijing Center and construction of the 240,000 sqm Beijing Jiahui International Hospital.

Another eye-popping number is a jump in per capita income, which grew 8 percent in 2021. Considering growth was only around 6 percent in 2019 (our last pre-pandemic year), it’s something to be proud of.

And just where were Beijing residents spending that income? We’re willing to venture a bet it was in some of the shiny new shops that opened in the capital last year.

The number of brands opening their first shops in the capital was sky high in 2021, with a whopping 901 popping up in Beijing.

While Chinese brands opening their first stores in the capital made up 85 perecent of the openings there were still 134 new international brands from 23 countries and regions, including 29 American brands, 21 Italian, and 18 French and Japanese brands.

Among them were Spanish kids clothing shop Tinycottons, French enthnic jewelers Satellite, American chain restaurant Bubba Gump Shrimp Co, and Manchester United's Theater of Dreams – a massive complex complete with restaurant, merch store, and more.So electronics, medicine, income and where to spend it – all contributing to RMB 4 trillion GDP for the capital in 2021.

So how'd your personal GDP do this past year? And did you shop till you dropped? Let us know in the comments!

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Images: CGTN, Global Times, Dianping