Beijing targets GDP growth of over 5% in 2022

BEIJING: The Chinese capital Beijing is striving to notch a year-on-year GDP growth of over 5 per cent this year, local authorities said on Thursday.

The city also aims at maintaining its consumer price index (CPI) increase within 3 per cent, compared with the previous year. The targets were unveiled in the government work report delivered by the city’s mayor Chen Jining at the ongoing fifth session of the 15th Beijing Municipal People’s Congress.

According to preliminary estimate, Beijing’s GDP exceeded 4 trillion yuan ($627.7 billion) in 2021, up 8.5 per cent over the previous year, and its CPI during the same period went up 1.1 per cent on a year-on-year basis, Chen said.

He added that the city’s per capita GDP and total labour productivity in 2021 took the lead in the country.

The municipal lawmakers of the city convened their annual meeting on Thursday. Both the city’s political consultative and legislative meetings, collectively known as Beijing’s “two sessions,” kicked off this week to discuss local economic and social development over the last year and make plans for this year.

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