The basic structure of Chinese economy is mostly that of a developing country, and Beijing being the capital city is an important part of this economy. The city is increasingly becoming known for its innovative entrepreneurs and high-growth start-ups due to a large community of both Chinese and foreign venture capital firms.
The economy of the city has undergone a rapid and consistent growth of around 8-9% annually since the introduction of economic reforms in 1980s. Though the majority of population still is employed on land, there is a significant industrial base and expanding pockets of advanced manufacturing and technological enterprises in the city.
Known for being one of the worlds largest producers of rice, cereals and grain and having large deposits of minerals like coal and iron ore, Beijing also has emerged as an extensive Industrial base especially with its auto industry eyeing the world.
In the last ten years, the government policy has diverted the emphasis on development of light industries and promoted the evolution of service sector too. But the chemicals and high technology industries have grown particularly quickly. Further, with China being self-sufficient in oil, Beijing also has developing petrochemicals industry.
Another important Industry of Beijing and China itself is Trade Show. The country always have been an important trade exhibition and fair destination with Beijing playing the crucial role in hosting shows like CIEET and FHC. The city is home countries World Trade Center and International Convention Center with numerous other well-developed exhibition venues.
The development of Beijing continues to proceed at a rapid pace and vast expansion. Known for its frequent "power-saving" programs instituted by the government, the city is also in an effort to alleviate the smog that covers the city due to numerous factories.
Major Business Centers
China World Trade Center:
The top up-market commercial mixed-use development center of China, the World Trade Center has contributed significantly to Chinas top-quality service industry and facilitated the enhancement of investment environment in Beijing.
As the market leader in industry and foreign trade, the center has become widely reputed as "The Place Where China Meets the World".
It is ideally located in the heart of Beijing's business, historic and diplomatic districts, and is China's largest commercial property development.
It is designed as a comprehensive commercial, residential, hotel, conference and exhibition complex having 61,000 m2 office space. Managed by the world-renowned Shangri-La Hotels and Resorts Group, which offers the convenience of a 9,328 m2 Conference Hall, China World Trade Center has some of the most technologically-advanced control systems and exhibition floor amenities.
China International Exhibition Center (CIEC):
Situated at northeast corner of Beijing, CIEC is only 10 km away from the downtown and 20 km from the airport, with numerous hotels scattered in the surrounding areas.
The exhibition center owns 60,000 m2 of total indoor exhibiting space, 7,000 m2 of outdoor space, container-ground of 10,000 m2 and a customs-bonded storage of 3,000 m2. Besides it also have services like Customs, transportation, booth construction, business tour, hotel accommodation and article renting.
The Center is a subsidiary of China International Exhibition Corporation (CIEC) under China Council for the Promotion of International Trade (CCPIT) and China Chamber of International Commerce (CCOIC). Also a member of Union des Foires Internatinales (UFI) and International Association for Exposition Management (IAEM), it organizes and hosts various international fairs, trade shows and foreign exhibitions.
Beijing International Convention Center (BICC):
Located within the magnificent Asian Games Village, BICC is 9 km from Tiananmen Square and 11 km from the Beijing Railway Station.
A key member of the Bei-jing North Star Industrial Group (BNSIG), it is one of the Chinese biggest conference and exhibition facility comprising of 50 conference halls and meeting rooms as well as indoor exhibition halls with international standard exhibition booths and dozens of offices.
The convention center has a floor space of 77,000 m2, consists of a Conference Building (with a business center, a post office, public and VIP lounges and bars located on each floor), the Chenxin House, the Chenyun House and the East Annex to the Conference Building.
Major Commercial Areas
One of the three oldest commercial areas in Beijing, Xidan has now developed into a modern central commercial area becoming more vital day by day.
Where the commercial area stretches from Lingjing Lane (hutong) to Xuanwumen, the Changan Avenue gives a wide range of shopping options.
While the Xidan commercial district incorporates the Xidan Culture Plaza and North Xidan Street, other modern commercial buildings in the area includes Xidan Department Store, Huawei Building, Beijing Book Emporium and Capital Times Square.
Further the Xidan also consists of retail commercial outlets, restaurants, recreation venues, health clubs, cultural venues, tourist spots, financial institutions, telecommunications enterprises and real estate firms.
Zhong Guan Cun (Zhongguancun):
The technology hub of Beijing, Zhon Guan Cun is also known as "the Silicon Valley of China". Officially recognized by the central government of China in 1988, it was given the name "Beijing High-Technology Industry Development Experimental Zone" but later became "Zhongguancun Science & Technology Zone."
The zone has seven industrial parks like Haidian Park, Fengtai Park, Changping Park, Electronics City, Yizhuang Park, Desheng Park and Jianxiang Park. In these parks there are over 12,000 high-tech enterprises with 489,000 technicians employed (according to the 2004 Beijing Statistical Yearbook)
Besides the area is also the major stop shop for all kinds of IT products. From speakers to computer parts, CDs & DVDs, all are available here at an astonishingly low price.
The Beijing Financial Street:
The Financial Street lies just east of Fuxingmen owning lots of offices and headquarters of national banks as well as many commercial offices placed in its many characterized skyscrapers.
Major Industrial Zones
Tian Zhu Airport Industrial Zone:
Located in the suburbs of Beijing 17 km away from downtown, this high-tech industrial zone of electronic and telecommunications is a planned area of 7.8 km2 in the Capital International Airport.
A modern Industrial Zone formed with IT and modern logistics has been a result of 10 years of development and construction.
With around 284 foreign and domestic enterprises from 18 countries and regions, the areas total investment has reached to billions of US Dollars. World famous companies like Sony, JVC, Panasonics, Electrolux, FedEx, Philips and LG are successfully placed in the region.
Location: 1 km west of the Airport
Manufacturing: Telecommunication & Electronics
Beijing Economic & Technological Development Areas (BDA):
Spread over 90 km² of area, the Beijing Economic and Technological Development Area is the only State-level development zone of Beijing.
The infrastructure of BDA has reached the standard of "nine connections and leveled land". "Nine connections" refers to pipelines of drainage, steam, water supply, natural gas, electricity, telecommunication, heating plant, cable television have bean installed and road is accessible. "Leveled land" refers to that the land is smooth and ready for construction indicating the land is naturally level.
Location: Southeast Beijing, 5th & 6th Ring Road