Consumption has taken up a greater portion in Beijing's GDP volume than investment over the past five years, an indicator highlighting consumption's increasingly important role in driving the capital's economy, China News Service reports.
In 2009, the capital's consumption rate was 12.3 percent higher than that of its investment rate, the report said, citing information from the Beijing National Development and Reform Commission, the local economic planner.
Citizens have been spending more money on purchasing automobiles, electronics, jewelry and tickets for cultural and entertainment events and services, the report said. For instance, every 100 households in Beijing owned 29.6 cars in 2009jdouble the number in 2005.
A report on urban competitiveness released this year by the Chinese Academy of Social Sciences said Beijing's shopping environment ranked first in inland China, only second to Hong Kong.
