Capital's H2 growth path leading toward technology

"Despite steady growth in the first half of this year, Beijing still faces three sources of pressure: an economic slowdown, deep structural reform and the governance of a megacity," Guo said.

"As a result, we need to be clear about the city's positioning and optimize industrial distribution with a focus on high added-value and innovative sectors and environmental protection industries."

He said that the government will respect the rules of a market-oriented economy and give more support to enterprises, which are the city's growth engine. Beijing will focus on technology and cultural companies in the private sector.

Beijing, with a permanent population of 21.2 million people as of 2013, is grappling with a soaring population, traffic congestion, high housing prices and air pollution.

Mayor Wang Anshun said that the city aims to disperse its functions in innovative ways and "adjust and shut down" industries that do not fit in with the city's plans.

He said Beijing will curb the explosive growth of its population by eliminating lower-end industries and relocating many large wholesale markets to the city's outskirts.

Since 2000, Beijing's permanent population has grown nearly 600,000 per year, and it is now far beyond the previously planned target of 18 million by 2020.

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