Beijing is the capital city of China. This city is focused on the manufacturing of pharmaceutical and electronic products.
It is the country’s political, cultural and international exchange center.
Beijing is a leader in aerospace, aviation, mobile phones, automobiles, and alternative energy products. This city is also one of the leaders in bioengineering and information technology. The strength of this city is in the human capital and scientific research. It has helped in the development of the hi-tech sector. This city has the most number of and prestigious institutions for higher education and scientific research in the country.
The economy of the city depends on the service sector. It has developed new services sectors, which include the outsourcing, cultural, and creative industries. It has been the capital of the country for a long time. Tourism is an important industry in the city. Enormous consumer demand from both the residents and tourists has made the city one of the biggest consumer markets in China.
It is trying to build a Chinese Silicon Valley. In this connection, the Zhongguancun Science Park was set up in 1988 to attract investment in science and technology.
The heavy industries and large enterprises dominate the industrial growth of the city.
Major foreign investment is from Hong Kong. A significant part of exports is to Hong Kong. In recent years, Hong Kong investors have participated in urban redevelopment. The Hong Kong property developers have invested in the redevelopment projects in the city.
Main Industries in Beijing