Beijing, China's economic center, fulfilled a GNP of 217 billion yuan in 1999, which is a growth of 10 percent over last year. Its financial revenue grew 22.8 percent, higher than the average percentage increases. Since the Communist victory in 1949, Beijing has become a great industrial area, the heart of a vast complex of textile mills, iron- and steelworks, railroad repair shops, machine shops, chemical plants, and factories manufacturing heavy machinery, electronic equipment, locomotives, plastics, synthetic fibers, and rolling stock. Beijing has formed a industrial system with coexist of different kinds of ecnomic frame and big, medium, small enterprise, large scale, sufficient kinds and strong metropolitan capacity.
Beijing's high technology industries, dominated by the construction of Zhongguancun Science Technological Center, plays a very important role in the development of Beijing's economy. The highly developed high technology industries have been the main driving force of capital's development. Compared to last year, Beijing's high technology industries sector increased 26.7 percent and reached 56.5 billion yuan, which accounts for 67 percent of the total industry expansion.
In June 16th, 1999, the State Council approved the resolution of speeding up the construction of Zhongguancun Science Technological Center. This is another strategic decision to national development in the 90's, followed by the construction of Shenzhen Economic Zone in the 70's and the expansion of Pudong New Area in the 80's. Therefore, in the following years, Beijing's economy will center on the construction and development of ZhongGuancun Science Technological Center. They will be made the source of China's science and technological products, and which is expected to lead the expansion of national high industries sector, upgrade industrial structures and strengthen its ability in global competition.