The added value of Beijing's new industries, new business formats and new business models, dubbed the "new economy," amounted to 787.08 billion yuan (US$121.05 billion) in the first half of 2021, contributing 40.9% of its GDP, according to data released by the Beijing Municipal Bureau of Statistics on Thursday. 

Beijing's "new economy" has picked up steam this year, with high-end industries including emerging industries and high-tech industries becoming new driving forces for the city's economic development. Calculated at current prices, the added value of Beijing's emerging industries hit 534.39 billion yuan in the first half year, up by 26.4% year on year, and accounted for 27.8% of the city's economy. The added value of high-tech industries registered 543.13 billion yuan, up by 25.7% year on year and accounted for 28.2% of Beijing's economy. 

Beijing's "culture plus internet" companies earned 461.53 billion yuan in the first half of the year, up by 35.9% year on year. They made up for 57.4% of the revenues from companies above the designated size in the cultural industry. 

During the first half of the year, revenues gained by internet data services companies and internet information services companies rose by 37% and 31.6%, respectively. Earnings of online education and sports firms increased by 40% year on year. 

In the first six months, Beijing saw 116,000 newly registered companies, a 63.4% increase from last year. Specifically, new sci-tech companies accounted for more than 40% of new firms. There were also 434 first stores of brands opened in Beijing in the first half of the year, surpassing the number of the same period of 2020. 

Also, Beijing's new infrastructure investment increased by 34.6% year on year, outpacing the growth of the city's total investment by 25.4 percentage points.