Beijing GDP on pace to reach new heights

Beijing's annual gross domestic product will reach 5 trillion yuan ($750 billion) in the next five years with a stronger substantial economy represented by high-tech industries, the municipality's Party Secretary Cai Qi said in a report at the opening ceremony of the ongoing 13th Communist Party of China Beijing Congress on Monday.

"Beijing will complete and improve its high-tech industrial structure, focusing on high-end, intelligent and green directions, as well as accelerating advanced manufacturing industries, such as integrated circuits, healthcare and hydrogen energy," he said.

The capital will cultivate several globally competitive industrial clusters in the next five years.

Last year, Beijing's GDP exceeded 4 trillion yuan for the first time, a year-on-year increase of 8.5 percent, according to the city government.