Misplaced Pages

#661338

96-634: Headquartered in Beijing , CICC has over 200 branches in Mainland China and offices in Hong Kong , Singapore , New York City , London , San Francisco , Frankfurt and Tokyo . On July 31, 1995, CICC was incorporated by China Construction Bank , Morgan Stanley , China National Investment and Guaranty Co Ltd, GIC , and the Mingly Corporation, as the first Sino-foreign joint venture investment bank. At

192-402: A post-industrial economy that is dominated by the tertiary sector (services), which generated 76.9% of output, followed by the secondary sector (manufacturing, construction) at 22.2% and the primary sector (agriculture, mining) at 0.8%. The economy, which tripled in size from 2004 to 2012, grew at an annual rate of 7.7% in 2013. Owing to the concentration of state owned enterprises in

288-616: A prefectural capital and during the Three Kingdoms period , it was held by Gongsun Zan and Yuan Shao before falling to the Wei Kingdom of Cao Cao . The AD third-century Western Jin demoted the town, placing the prefectural seat in neighboring Zhuozhou . During the Sixteen Kingdoms period when northern China was conquered and divided by the Wu Hu , Jicheng was briefly the capital of

384-534: A 5% stake in CICC. As of October 31, 2021, its shareholding structure was as follows: Beijing This is an accepted version of this page Beijing , previously romanized as Peking , is the capital city of China . With more than 22 million residents, it is the world's most populous national capital city as well as China's second largest city after Shanghai . It is located in Northern China , and

480-466: A considerable portion for steel and cement making. Power plants in the coal-mining regions of Shanxi, Inner Mongolia and Shaanxi, where coal consumption has tripled since 2000, and Shandong also contribute to air pollution in Beijing. Shandong, Shanxi, Hebei and Inner Mongolia, respectively rank from first to fourth, among Chinese provinces by coal consumption. There were four major coal-fired power plants in

576-419: A few pedestrians can pass through at a time. Once ubiquitous in Beijing, siheyuans and hutongs are rapidly disappearing, as entire city blocks of hutongs are replaced by high-rise buildings. Residents of the hutongs are entitled to live in the new buildings in apartments of at least the same size as their former residences. Many complain, however, that the traditional sense of community and street life of

672-739: A large public gathering of Beijing residents in Tiananmen Square, protesting against the Gang of Four and the Cultural Revolution, was forcefully suppressed . In October 1976, the Gang was arrested in Zhongnanhai and the Cultural Revolution came to an end. In December 1978, the Third Plenum of the 11th Party Congress in Beijing under the leadership of Deng Xiaoping reversed the verdicts against victims of

768-473: A major center of electronics in China. In recent years, the expansion of Beijing has also brought to the forefront some problems of urbanization, such as heavy traffic , poor air quality , the loss of historic neighborhoods, and a significant influx of migrant workers from less-developed rural areas of the country. The city has also been the location of many significant events in recent Chinese history, principally

864-464: A pancake" ( tan da bing ). This pattern of development is frequently cited as a reason for Beijing's urban problems. Beijing has a monsoon-influenced humid continental climate ( Köppen : Dwa ), bordering on a cold semi-arid climate ( Köppen : BSk ) in the south and in the northwest, characterized by hot, humid summers due to the East Asian monsoon , and brief but cold, dry winters that reflect

960-561: A period of 39 years. Also required was the execution or exile of government supporters of the Boxers and the destruction of Chinese forts and other defenses in much of northern China. Ten days after the treaty was signed the foreign armies left Beijing, although legation guards would remain there until World War II . With the treaty signed the Empress Dowager Cixi returned to Beijing from her "tour of inspection" on 7 January 1902 and

1056-674: A southeasterly direction. The Miyun Reservoir, on the upper reaches of the Chaobai River, is the largest reservoir within the municipality. Beijing is also the northern terminus of the Grand Canal to Hangzhou , which was built over 1,400 years ago as a transportation route, and the South–North Water Transfer Project , constructed in the past decade to bring water from the Yangtze River basin. The urban area of Beijing, on

SECTION 10

#1733085240662

1152-476: A total of 28,032,000 square metres (301,730,000 sq ft) of housing real estate was sold, for a total of 175.88 billion RMB. The total number of cars registered in Beijing in 2004 was 2,146,000, of which 1,540,000 were privately owned (a yearly increase of 18.7%). The Beijing central business district (CBD), centered on the Guomao area, has been identified as the city's new central business district, and

1248-426: A total of 600 million people. After this "pollution shock" air pollution became an important economic and social concern in China. After that the government of Beijing announced measures to reduce air pollution, for example by lowering the share of coal from 24% in 2012 to 10% in 2017, while the national government ordered heavily polluting vehicles to be removed from 2015 to 2017 and increased its efforts to transition

1344-453: A wholly owned subsidiary of China Investment Corporation . In 2010, Morgan Stanley sold its holdings to TPG , KKR , GIC and Great Eastern . CICC established its FICC division, and was one of the earliest investment banks to conduct fixed income business in China. In 2015, CICC was converted into a joint stock company with limited liability whose top three shareholders were Huijin, GIC and TPG. In November 2015, CICC completed its own IPO on

1440-543: Is "BJ". The earliest traces of human habitation in the Peking municipality were found in the caves of Dragon Bone Hill near the village of Zhoukoudian in Fangshan District , where Peking Man lived. Homo erectus fossils from the caves date to 230,000 to 250,000 years ago. Paleolithic Homo sapiens also lived there more recently, about 27,000 years ago. Archaeologists have found neolithic settlements throughout

1536-719: Is 27.2 °C (81.0 °F). Precipitation averages around 528.0 mm (20.8 in) annually ( Haidian and Chaoyang has an average annual precipitation of 584.2 mm (23.0 in)), with close to three-quarters of that total falling from June to August. With monthly percent possible sunshine ranging from 42% in July to 62% in January and February, the city receives 2,490.5 hours of bright sunshine annually. Extremes since 1951 have ranged from −27.4 °C (−17.3 °F) on 22 February 1966 to 41.9 °C (107.4 °F) on 24 July 1999 (unofficial record of 42.6 °C (108.7 °F)

1632-598: Is also a major hub for the national highway , expressway , railway , and high-speed rail networks. For a decade before the COVID-19 pandemic , the Beijing Capital International Airport was Asia's busiest airport (2009–2019) and the second busiest airport in the world (2010–2019). In 2020, the Beijing subway was the fourth busiest and second longest in the world . The Beijing Daxing International Airport , Beijing's second international airport,

1728-639: Is carried on outside the urban area, with wheat and maize (corn) being the main crops. Vegetables are also grown closer to the urban area in order to supply the city. Like the country as a whole, Beijing also falls under the jurisdiction of minimum wage which stands at RMB 2,200. Due to the Covid Pandemic Situation the minimum wage was not adjusted in the year 2020. As part of its effort to address high real estate prices, Beijing places limitations on property purchases. As of at least 2023, to buy real estate, Beijing households must demonstrate that for

1824-447: Is causing harm and danger to the population. The air pollution does directly result in significant impact on the morbidity rate of cardiovascular disease and respiratory disease in Beijing. Exposure to large concentrations of polluted air can cause respiratory and cardiovascular problems, emergency room visits, and even death. Dust from the erosion of deserts in northern and northwestern China results in seasonal dust storms that plague

1920-506: Is famous for its siheyuans , a type of residence where a common courtyard is shared by the surrounding buildings. Among the more grand examples are the Prince Gong Mansion and Residence of Soong Ching-ling . These courtyards are usually connected by alleys called hutongs . The hutongs are generally straight and run east to west so that doorways face north and south for good Feng Shui . They vary in width; some are so narrow only

2016-516: Is governed as a municipality under the direct administration of the State Council with 16 urban, suburban, and rural districts . Beijing is mostly surrounded by Hebei Province and neighbors Tianjin to the southeast; together, the three divisions form the Jing-Jin-Ji cluster . It is ranked as the 10th most important city in the world by Knight Frank . Beijing is a global city and one of

SECTION 20

#1733085240662

2112-530: Is home to a variety of corporate regional headquarters, shopping precincts, and high-end housing. Beijing Financial Street , in the Fuxingmen and Fuchengmen area, is a traditional financial center. The Wangfujing and Xidan areas are major shopping districts. Zhongguancun , dubbed "China's Silicon Valley", continues to be a major center in electronics and computer-related industries, as well as pharmaceuticals -related research. Meanwhile, Yizhuang , located to

2208-452: Is no longer the common name for the city, some of the city's older locations and facilities, such as Beijing Capital International Airport , with the IATA code PEK, and Peking University , still retain the former romanization. The single Chinese character abbreviation for Beijing is 京 , which appears on automobile license plates in the city. The official Latin alphabet abbreviation for Beijing

2304-455: Is one of the most important tourist destinations in the world. In 2018, Beijing was the second highest earning tourist city in the world after Shanghai . Beijing is home to many national monuments and museums and has eight UNESCO World Heritage Sites —the Forbidden City , Temple of Heaven , Summer Palace , Ming Tombs , Zhoukoudian Peking Man Site , Beijing Central Axis and parts of

2400-505: Is the largest single-structure airport terminal in the world. The city has hosted numerous international and national sporting events, the most notable being the 2008 Summer Olympics and 2008 Summer Paralympics Games. In 2022, Beijing became the first city ever to host both the Summer and Winter Olympics , and also the Summer and Winter Paralympics . Beijing combines both modern and traditional style architectures , with one side of

2496-456: The APEC China 2014 and the 2015 China Victory Day Parade , respectively. During and prior to these events, Beijing's air quality improved dramatically, only to fall back to unhealthy levels shortly after. On 8 and 9 December 2015 Beijing had its first smog alert which shut down a majority of the industry and other commercial businesses in the city. Later in the month another smog "red alert"

2592-692: The Chinese Academy of Social Sciences , the Central Academy of Fine Arts , the Central Academy of Drama , the Central Conservatory of Music , and the Red Cross Society of China . Over the past 3,000 years, the city of Beijing has had numerous other names . The name Beijing , which means "Northern Capital" (from the Chinese characters 北 běi for north and 京 jīng for capital ),

2688-648: The Chinese Communist Party (CCP), led by the Beijing CCP Secretary . The Municipal CCP Committee issues administrative orders, collects taxes, manages the economy, and directs a standing committee of the Municipal People's Congress in making policy decisions and overseeing the local government. Since 1987, all CCP Secretary of Beijing is also a member of the Politburo . Government officials include

2784-639: The Convention of Peking ending that war, Western powers for the first time secured the right to establish permanent diplomatic presences within the city. From 14 to 15 August 1900 the Battle of Peking was fought. This battle was part of the Boxer Rebellion . The attempt by the Boxers to eradicate this presence, as well as Chinese Christian converts, led to Beijing's reoccupation by eight foreign powers . During

2880-457: The Great Wall and the Grand Canal —all of which are popular tourist locations. Siheyuans , the city's traditional housing style, and hutongs , the narrow alleys between siheyuans, are major tourist attractions and are common in urban Beijing. Beijing's public universities make up more than one-fifth of Double First-Class Construction universities, and many of them consistently rank among

2976-646: The Qing dynasty as a direct successor of the Ming (delegitimising Li Zicheng and his followers) and Beijing became China's sole capital. The Qing emperors made some modifications to the Imperial residence but, in large part, the Ming buildings and the general layout remained unchanged. Facilities for Manchu worship were introduced, but the Qing also continued the traditional state rituals. Signage

China International Capital Corporation - Misplaced Pages Continue

3072-524: The Temple of Heaven . Next, there is what is sometimes referred to as the "Sino-Sov" style, with structures tending to be boxy and sometimes poorly constructed, which were built between the 1950s and the 1970s. Finally, there are much more modern architectural forms, most noticeably in the area of the Beijing CBD in east Beijing such as the new CCTV Headquarters , in addition to buildings in other locations around

3168-519: The Tiananmen Square protests of 1989 . Beijing has hosted major international sporting events, including the 2008 Summer Olympics , the 2015 World Athletics Championships , and the 2022 Winter Olympics , and is the only city to have hosted both the Winter and Summer Olympics . Beijing is situated at the northern tip of the roughly triangular North China Plain , which opens to the south and east of

3264-647: The Xianbei Former Yan Kingdom. After China was reunified by the Sui dynasty in 581, Jicheng, also known as Zhuojun , became the northern terminus of the Grand Canal . Under the Tang dynasty , Jicheng as Youzhou , served as a military frontier command center. During the An-Shi Rebellion and again amidst the turmoil of the late Tang, local military commanders founded their own short-lived Yan dynasties and called

3360-451: The hutongs cannot be replaced, and these properties are often government owned. Beijing had a long history of environmental problems . Between 2000 and 2009 Beijing's urban extent quadrupled, which not only strongly increased the extent of anthropogenic emissions, but also changed the meteorological situation fundamentally, even if emissions of human society are not included. For example, surface albedo , wind speed and humidity near

3456-472: The mayor ( Chinese : 市长 ) and vice-mayor. Numerous bureaus focus on law, public security, and other affairs. Additionally, as the capital of China, Beijing houses all of the important national governmental and political institutions, including the National People's Congress . Economy of Beijing The economy of Beijing ranks among the most developed and prosperous cities in China. In 2013,

3552-688: The oldest surviving pagodas in Beijing date to the Liao period, including the Tianning Pagoda . The Liao fell to the Jurchen Jin dynasty in 1122, which gave the city to the Song dynasty and then retook it in 1125 during its conquest of northern China . In 1153, the Jurchen Jin made Beijing their "Central Capital", or Zhongdu . The city was besieged by Genghis Khan 's invading Mongolian army in 1213 and razed to

3648-503: The 15th, 16th, 17th, and 18th centuries. The first known church was constructed by Catholics in 1652 at the former site of Matteo Ricci 's chapel; the modern Nantang Cathedral was later built upon the same site. The capture of Beijing by Li Zicheng 's peasant army in 1644 ended the dynasty, but he and his Shun court abandoned the city without a fight when the Manchu army of Prince Dorgon arrived 40 days later. Dorgon established

3744-406: The Beijing area. Beijing's annual average concentration of major airborne fine particulate matter, or PM2.5, declined to 30 micrograms per cubic meter in 2022, the best air quality for the city since 2013. Due to Beijing's high level of air pollution, there are various readings by different sources on the subject. Daily pollution readings at 27 monitoring stations around the city are reported on

3840-502: The Cultural Revolution and instituted the "policy of reform and opening up". Since the early 1980s, the urban area of Beijing has expanded greatly with the completion of the 2nd Ring Road in 1981 and the subsequent addition of the 3rd , 4th , 5th and 6th ring roads. According to one 2005 newspaper report, the newly developed Beijing was one-and-a-half times its previous size. Wangfujing and Xidan have developed into flourishing shopping districts, while Zhongguancun has become

3936-525: The Hong Kong Stock Exchange. In 2016 CICC acquired China Investment Securities from Central Huijin in an all-share deal. In 2017, CICC acquired a majority stake (50+%) in US KraneShares, a leading exchange-traded fund provider that focuses on Chinese listed companies, with its biggest fund (KWEB) focused on Chinese Internet companies. In 2017, giant Chinese internet company, Tencent acquired

China International Capital Corporation - Misplaced Pages Continue

4032-697: The IPO of China Mobile on the Hong Kong Stock Exchange , which marked the beginning of the restructuring and overseas listing of large state-owned enterprises directly under the State Council of China . It was also the largest IPO in Asia as well as the largest IPO of China-based companies ever up until the end of 1997. In 2004, China Construction Bank transferred its equity interest to China Jianyin Investment , which later transferred that to China Central Huijin ,

4128-457: The Ming capital Yingtian (modern Nanjing ) alienated many there, he established his fief as a new co-capital. The city of Beiping became Beijing ("Northern Capital") or Shuntian in 1403. The construction of the new imperial residence, the Forbidden City , took from 1406 to 1420; this period was also responsible for several other of the modern city's major attractions, such as the Temple of Heaven and Tian'anmen . On 28 October 1420,

4224-487: The best in the Asia-Pacific and the world. Beijing is home to universities, including Tsinghua University and Peking University . Beijing CBD is a center for Beijing's economic expansion , with the ongoing or recently completed construction of multiple skyscrapers . Beijing's Zhongguancun area is a world leading center of scientific and technological innovation as well as entrepreneurship. Beijing has been ranked

4320-402: The capital to Nanjing . After the Qing general Yuan Shikai forced the abdication of the last Qing emperor and ensured the success of the revolution, the revolutionaries accepted him as president of the new Republic of China . Yuan maintained his capital at Beijing and quickly consolidated power, declaring himself emperor in 1915. His death less than a year later left China under the control of

4416-478: The center of Beijing, directly to the south of the Forbidden City , the former residence of the emperors of China. To the west of Tian'anmen is Zhongnanhai , the residence of China's current leaders. Chang'an Avenue , which cuts between Tiananmen and the Square, forms the city's main east–west axis. Beijing's pattern of development from the old inner city to its urban fringe are frequently described as "spreading like

4512-731: The city Yanjing , or the "Yan Capital." Also in the Tang dynasty, the city's name Jicheng was replaced by Youzhou or Yanjing. In 938, after the fall of the Tang, the Later Jin ceded the frontier territory including what is now Beijing to the Khitan Liao dynasty, which treated the city as Nanjing , or the "Southern Capital", one of four secondary capitals to complement its "Supreme Capital" Shangjing (modern Baarin Left Banner in Inner Mongolia ). Some of

4608-479: The city being modernized and renovated to fit the times, and the other half still offering traditional hutong districts. Beijing is one of the oldest cities in the world , with a rich history dating back over three millennia. As the last of the Four Great Ancient Capitals of China , Beijing has been the political center of the country for most of the past eight centuries, and was the largest city in

4704-443: The city burned 26.3 million tons of coal, 73% of which for heating and power generation and the remainder for industry. Much of the city's air pollutants are emitted by neighboring regions. Coal consumption in neighboring Tianjin is expected to increase from 48 to 63 million tons from 2011 to 2015. Hebei Province burned over 300 million tons of coal in 2011, more than all of Germany, of which only 30% were used for power generation and

4800-712: The city such as the Beijing National Stadium and National Center for the Performing Arts . Since 2007, buildings in Beijing have received the CTBUH Skyscraper Award for best overall tall building twice, for the Linked Hybrid building in 2009 and the CCTV Headquarters in 2013. The CTBUH Skyscraper award for best tall overall building is given to only one building around the world every year. In

4896-498: The city to provide electricity as well as heating during the winter. The first one (Gaojing Thermal Power Plant) was shut down in 2014. Another two were shut in March 2015. The last one (Huaneng Thermal Power Plant) would be shut in 2016. Between 2013 and 2017, the city planned to reduce 13 million tons of coal consumption and cap coal consumption to 15 million tons in 2015. The government sometimes uses cloud-seeding measures to increase

SECTION 50

#1733085240662

4992-518: The city was officially designated the capital of the Ming dynasty in the same year that the Forbidden City was completed. Beijing became the empire's primary capital, and Yingtian, also called Nanjing ("Southern Capital"), became the co-capital. (A 1425 order by Zhu Di's son, the Hongxi Emperor , to return the primary capital to Nanjing was never carried out: he died, probably of a heart attack,

5088-667: The city with the largest scientific research output by the Nature Index since the list's inception in 2016. Beijing hosts 176 foreign embassies as well as the headquarters of many organizations, including the Asian Infrastructure Investment Bank (AIIB), the Shanghai Cooperation Organisation (SCO), the Silk Road Fund , the Chinese Academy of Sciences , the Chinese Academy of Engineering ,

5184-408: The city, often marketed to expatriates and international visitors. The development of Beijing continues at a rapid pace, and the vast expansion has created a multitude of problems for the city. Beijing is known for its smog as well as the frequent "power-saving" programmes instituted by the government. To reduce air pollution, a number of major industries have been ordered to reduce emissions or leave

5280-458: The city. Beijing Capital Steel , once one of the city's largest employers and its single biggest polluter, has been relocating most of its operations to Tangshan , in nearby Hebei Province. Beijing is increasingly becoming known for its innovative entrepreneurs and high-growth startup companies . This culture is backed by a large community of both Chinese and foreign venture capital firms, such as Sequoia Capital , whose head office in China

5376-430: The city. Mountains to the north, northwest and west shield the city and northern China's agricultural heartland from the encroaching desert steppes. The northwestern part of the municipality, especially Yanqing District and Huairou District , are dominated by the Jundu Mountains , while the western part is framed by Xishan or the Western Hills . The Great Wall of China across the northern part of Beijing Municipality

5472-399: The city. The Marco Polo Bridge Incident triggered the Second Sino-Japanese War , World War II as it is known in China. During the war, Beijing fell to Japan on 29 July 1937 and was made the seat of the Provisional Government of the Republic of China , a puppet state that ruled the ethnic-Chinese portions of Japanese-occupied northern China . This government was later merged into

5568-425: The city; the Beijing Weather Modification Office sometimes artificially induces rainfall to fight such storms and mitigate their effects. In the first four months of 2006 alone, there were no fewer than eight such storms. In April 2002, one dust storm alone dumped nearly 50,000 tons of dust onto the city before moving on to Japan and Korea. The municipal government is regulated by the Municipal Committee of

5664-420: The construction of the Beijing Subway and the 2nd Ring Road . During the Cultural Revolution from 1966 to 1976, the Red Guard movement began in Beijing and the city's government fell victim to one of the first purges. By the autumn of 1966, all city schools were shut down and over a million Red Guards from across the country gathered in Beijing for eight rallies in Tiananmen Square with Mao. In April 1976,

5760-401: The early 21st century, Beijing has witnessed tremendous growth of new building constructions, exhibiting various modern styles from international designers, most pronounced in the CBD region. A mixture of both 1950s design and neofuturistic style of architecture can be seen at the 798 Art Zone , which mixes the old with the new. Beijing's tallest building is the 528-meter China Zun . Beijing

5856-433: The energy system to clean sources. Joint research between American and Chinese researchers in 2006 concluded that much of the city's pollution comes from surrounding cities and provinces. On average 35–60% of the ozone can be traced to sources outside the city. Shandong Province and Tianjin Municipality have a "significant influence on Beijing's air quality", partly due to the prevailing south/southeasterly flow during

SECTION 60

#1733085240662

5952-423: The fighting, several important structures were destroyed, including the Hanlin Academy and the (new) Summer Palace . A peace agreement was concluded between the Eight-Nation Alliance and representatives of the Chinese government Li Hongzhang and Yikuang on 7 September 1901. The treaty required China to pay an indemnity of US$ 335 million (over US$ 4 billion in current dollars) plus interest over

6048-417: The ground two years later. Two generations later, Kublai Khan ordered the construction of Dadu (or Daidu to the Mongols, commonly known as Khanbaliq ), a new capital for his Yuan dynasty to the northeast of the Zhongdu ruins. The construction took from 1264 to 1293, but greatly enhanced the status of a city on the northern fringe of China proper . The city was centered on the Drum Tower slightly to

6144-608: The influence of the vast Siberian anticyclone . Spring can bear witness to sandstorms blowing in from the Gobi Desert across the Mongolian steppe , accompanied by rapidly warming, but generally dry, conditions. Autumn, similar to spring, is a season of transition and minimal precipitation. From 2001 to 2024, the hottest period in Beijing is early August, and the coldest period is late January. According to China's seasonal division standard, Beijing enters spring on 26 March, summer on 20 May, autumn on 13 September, and winter on 31 October. The average annual temperature in

6240-400: The larger Wang Jingwei government based in Nanjing. In the final phases of the Chinese Civil War , the People's Liberation Army seized control of the city peacefully on 31 January 1949 in the course of the Pingjin Campaign . On 1 October that year, Mao Zedong announced the creation of the People's Republic of China from atop Tiananmen . He restored the name of the city, as

6336-419: The largest companies in China . Finance is one of the most important industries. By the end of 2007, there were 751 financial organizations in Beijing generating revenue of 128.6 billion RMB , 11.6% of the total financial industry revenue of the entire country. That also accounts for 13.8% of Beijing's GDP, the highest percentage of any Chinese city. In the 2020 Global Financial Centres Index , Beijing

6432-429: The largest fleets in the world. Beijing became the first city in China to require the Chinese equivalent to the Euro 4 emission standard . Coal burning accounts for about 40% of the PM 2.5 in Beijing and is also the chief source of nitrogen and sulphur dioxide. Since 2012, the city has been converting coal-fired power stations to burn natural gas and aims to cap annual coal consumption at 20 million tons. In 2011,

6528-444: The last two years they have resided legally in Beijing and paid their taxes. They can purchase no more than two pieces of real estate. Foreigners must have lived in the city and paid local taxes for at least five years in order to buy real estate. Less legitimate enterprises also exist. Urban Beijing is known for being a center of infringed goods; anything from the latest designer clothing to DVDs can be found in markets all over

6624-462: The likelihood of rain showers in the region to clear the air prior to large events, such as prior to the 60th anniversary parade in 2009 as well as to combat drought conditions in the area. More recently, however, the government has increased its usage of such measures as closing factories temporarily and implementing greater restrictions for cars on the road, as in the case of " APEC blue " and "parade blue", short periods during and immediately preceding

6720-471: The municipality's nominal gross domestic product (GDP) was CN¥ 1.95 trillion (US$ 314 billion). It was about 3.43% of the country's total output , and ranked 13th among province-level administrative units . Per capita GDP , at CN¥93,213 (US$ 15,051) in nominal terms and Int $ 21,948 at purchasing power parity , was 2.2 times the national average and ranked second among province-level administrative units. As of 2021, Beijing's gross regional products

6816-458: The municipality, including in Wangfujing , located in central Peking. The first walled city in Beijing was Jicheng , the capital city of the state of Ji which was built in 1045 BC. Within modern Beijing, Jicheng was located around the present Guang'anmen area in the south of Xicheng District . This settlement was later conquered by the state of Yan and made its capital. After the First Emperor unified China in 221 BC, Jicheng became

6912-424: The national capital, Beijing in 2013 had more Fortune Global 500 Company headquarters than any other city in the world. Beijing has been described as the " billionaire capital of the world" since overtaking New York in 2016. In 2012, PricewaterhouseCoopers rated Beijing's overall economic influence as No. 1 in China. Beijing is home to 54 Fortune Global 500 companies, the most in the world, and over 100 of

7008-470: The new capital, to Beijing, a decision that had been reached by the Chinese People's Political Consultative Conference just a few days earlier. In the 1950s, the city began to expand beyond the old walled city and its surrounding neighborhoods, with heavy industries in the west and residential neighborhoods in the north . Many areas of the Beijing city wall were torn down in the 1960s to make way for

7104-415: The next month. He was buried, like almost every Ming emperor to follow him, in an elaborate necropolis to Beijing's north.) By the 15th century, Beijing had essentially taken its current shape. The Ming city wall continued to serve until modern times, when it was pulled down and the 2nd Ring Road was built in its place. It is generally believed that Beijing was the largest city in the world for most of

7200-596: The north of modern Beijing and stretched from the present-day Chang'an Avenue to the northern part of Line 10 subway . Remnants of the Yuan rammed earth wall still stand and are known as the Tucheng. In 1368, soon after declaring the new Hongwu era of the Ming dynasty , the rebel leader Zhu Yuanzhang captured Dadu/Khanbaliq and razed the Yuan palaces to the ground. Since the Yuan continued to occupy Shangdu and Mongolia , Dadu

7296-464: The plains in the south-central of the municipality with elevation of 40 to 60 metres (130–200 feet), occupies a relatively small but expanding portion of the municipality's area. The city spreads out in concentric ring roads . The Second Ring Road traces the old city walls and the Sixth Ring Road connects satellite towns in the surrounding suburbs. Tian'anmen and Tian'anmen Square are at

7392-521: The rule of the Qing dynasty over China was restored, albeit much weakened by the defeat it had suffered in the Boxer Rebellion and by the indemnity and stipulations of the peace treaty. The Dowager died in 1908 and the dynasty imploded in 1911. The fomenters of the Xinhai Revolution of 1911 sought to replace Qing rule with a republic and leaders like Sun Yat-sen originally intended to return

7488-461: The rural residents was 32.8%, declining 4.5 and 3.9 percentage points respectively compared to 2000. As of 2018 , Beijing' Nominal GDP was US$ 458 billion ( CN¥ 3.0 trillion), about 3.45% of the country's GDP and ranked 12th among province-level administrative units ; its Nominal GDP per capita was US$ 21,261 (CN¥140,748) and ranked the 1st in the country. Beijing's real estate and automobile sectors have continued to boom in recent years. In 2005,

7584-430: The southeast of the urban area, is becoming a new center in pharmaceuticals, information technology, and materials engineering. Shijingshan , on the western outskirts of the city, is among the major industrial areas. Specially designated industrial parks include Zhongguancun Science Park , Yongle Economic Development Zone, Beijing Economic-technological Development Area, and Tianzhu Airport Industrial Zone. Agriculture

7680-789: The summer and the mountains to the north and northwest. In preparation for the 2008 Summer Olympics and to fulfill promises to clean up the city's air, nearly US$ 17 billion was spent. Beijing implemented a number of air improvement schemes for the duration of the Games, including halting work at all construction sites, closing many factories in Beijing permanently, temporarily shutting industry in neighboring regions, closing some gas stations, and cutting motor traffic by half by limiting drivers to odd or even days (based on their license plate numbers) , reducing bus and subway fares, opening new subway lines, and banning high-emission vehicles. The city further assembled 3,800 natural gas -powered buses, one of

7776-427: The surface were decreased, whereas ground and near-surface air temperatures , vertical air dilution and ozone levels were increased. Because of the combined factors of urbanization and pollution caused by burning of fossil fuel , Beijing is often affected by serious environmental problems, which lead to health issues of many inhabitants. In 2013 heavy smog struck Beijing and most parts of northern China, impacting

7872-474: The time of CICC's incorporation, China Construction Bank and Morgan Stanley were its largest shareholders, with 42.5% and 35% of interests, respectively. In 1997, CICC established its first overseas subsidiary in Hong Kong, through which CICC became the first Chinese investment bank conducting securities underwriting business in Hong Kong. In 1997, CICC completed its first overseas initial public offering project,

7968-399: The urban area of Beijing is 12.9 °C (55.2 °F) to 13.3 °C (55.9 °F), of which the average daily minimum temperature is 7.7 °C (45.9 °F) to 8.4 °C (47.1 °F), and the average daily maximum temperature is 18.5 °C (65.3 °F) to 18.9 °C (66.0 °F). The monthly daily average temperature in January is −2.7 °C (27.1 °F), while in July it

8064-638: The warlords commanding the regional armies. Following the success of the Kuomintang 's Northern Expedition , the capital was formally moved to Nanjing in 1928. On 28 June the same year, Beijing's name was returned to Beiping (written at the time as "Peiping"). On 7 July 1937, the 29th Army and the Japanese army in China exchanged fire at the Marco Polo Bridge near the Wanping Fortress southwest of

8160-597: The website of the Beijing Environmental Protection Bureau (BJEPB). The American Embassy of Beijing also reports hourly fine particulate (PM2.5) and ozone levels on Twitter. Since the BJEPB and US Embassy measure different pollutants according to different criteria, the pollution levels and the impact to human health reported by the BJEPB are often lower than that reported by the US Embassy. The smog

8256-427: The world by population for much of the second millennium CE . With mountains surrounding the inland city on three sides, in addition to the old inner and outer city walls , Beijing was strategically poised and developed to be the residence of the emperor and thus was the perfect location for the imperial capital. The city is renowned for its opulent palaces, temples, parks, gardens, tombs, walls and gates . Beijing

8352-467: The world's leading centres for culture , diplomacy , politics , finance , business and economics , education , research , language , tourism , media , sport , science and technology and transportation and art. It is home to the headquarters of most of China's largest state-owned companies and houses the largest number of Fortune Global 500 companies in the world, as well as the world's four biggest financial institutions by total assets. It

8448-534: Was CN¥ 4 trillion ($ 965 billion in GDP PPP ), ranking among the 10th largest metropolitan economies in the world. Beijing's nominal GDP is projected to reach US$ 1.1 trillion in 2035, ranking among the top 10 largest cities in the world (together with Shanghai , Guangzhou and Shenzhen in China) according to a study by Oxford Economics, and its nominal GDP per capita is estimated to reach US$ 45,000 in 2030. The city has

8544-504: Was 68,788 RMB (US$ 10,070), an increase of 6.2% over 2008. In 2009, Beijing's primary, secondary, and tertiary industries were worth 11.83 billion RMB, 274.31 billion RMB, and 900.45 billion RMB respectively. Urban disposable income per capita was 26,738 yuan, a real increase of 8.1% from the previous year. Per capita pure income of rural residents was 11,986 RMB, a real increase of 11.5%. The Engel's coefficient of Beijing's urban residents reached 31.8% in 2005, while that of

8640-563: Was applied to the city in 1403 during the Ming dynasty to distinguish the city from Nanjing (the "Southern Capital"). The English spelling Beijing is based on the government's official romanization (adopted in the 1980s) of the two characters as they are pronounced in Standard Mandarin . An older English spelling, Peking , was used by Jesuit missionary Martino Martini in a popular atlas published in Amsterdam in 1655. Although Peking

8736-635: Was bilingual or Chinese. This early Qing Beijing later formed the setting for the Chinese novel Dream of the Red Chamber . Northwest of the city, Qing emperors built several large palatial gardens including the Old Summer Palace and the Summer Palace . During the Second Opium War , Anglo-French forces captured the outskirts of the city, looting and burning the Old Summer Palace in 1860. Under

8832-556: Was built on the rugged topography to defend against nomadic incursions from the steppes. Mount Dongling , in the Western Hills and on the border with Hebei , is the municipality's highest point, with an altitude of 2,303 metres (7,556 ft). Major rivers flowing through the municipality, including the Chaobai , Yongding , Juma , are all tributaries in the Hai River system, and flow in

8928-662: Was issued. According to Beijing's environmental protection bureau's announcement in November 2016, starting from 2017 highly polluting old cars will be banned from being driven whenever Smog "red alerts" are issued in the city or neighboring regions. In recent years, there has been measurable reductions in pollutants after the "war on pollution" was declared in 2014, with Beijing seeing a 35% reduction in fine particulates in 2017 and further reduction by 2020. The primary factors behind this reduction were replacing coal power with natural gas and cleaning up polluting industrial facilities in

9024-458: Was ranked as having the 7th most competitive financial center in the world and fifth most competitive in Asia (after Shanghai , Tokyo , Hong Kong and Singapore ). In 2010, Beijing's nominal GDP reached 1.37 trillion RMB. Its per capita GDP was 78,194 RMB. In 2009, Beijing's nominal GDP was 1.19 trillion RMB (US$ 174 billion), a growth of 10.1% over the previous year. Its GDP per capita

9120-516: Was set on 15 June 1942). See or edit raw graph data . Three styles of architecture are predominant in urban Beijing. First, there is the traditional architecture of imperial China, perhaps best exemplified by the massive Tian'anmen (Gate of Heavenly Peace), which remains the People's Republic of China's trademark edifice, the Forbidden City , the Imperial Ancestral Temple and

9216-506: Was used to supply the Ming military garrisons in the area and renamed Beiping ( Wade–Giles : Peip'ing, "Northern Peace"). Under the Hongwu Emperor's feudal policies, Beiping was given to his son Zhu Di , who was created " Prince of Yan ". The early death of Zhu Yuanzhang 's heir led to a succession struggle upon his death, one that ended with the victory of Zhu Di and the declaration of the new Yongle era . Since his harsh treatment of

#661338