Beijing expects high GDP growth after Olympic Games

The Beijing Municipal Development and Reform Commission (BMDRC) said that with its hosting of the Olympic Games, Beijing's gross domestic product (GDP) is expected to surpass RMB 1 trillion (US$146.2 billion) in 2008.

Wang Haiping, the deputy director of BMDRC, said yesterday that Beijing's average annual GDP growth was 12.4% from 2001 to 2007, with the city's 2007 GDP double that in 2001. Beijing's per capita GDP in 2001 was US$3,262; it increased to US$7,654 in 2007, and is expected to exceed US$8,000 in 2008. Figures from the Beijing Statistics Bureau (BSB) showed that the city has registered a year-on-year increase of 11% in its GDP to RMB 497.3 billion in the first half of the year.

Beijing has invested more than RMB 300 billion as host of the 2008 Summer Olympics.. According to statistics from BSB, Beijing's average annual GDP growth is now 11.8%, which is 0.8 percentage points higher than the period from 2001–2005. In 2007, the Olympics-related infrastructure construction sector contributed up to 1.14%.

The BSB also predicted that Beijing's GDP growth will increase 0.85% this year due to investment in infrastructure and sports facilities, according to a source from Xinhua news.