Chapter 9 " China's Industry, Energy, Trade, and Transportation in a Global Context"

After the end of the Community Revolution of 1949, Beijing has become one of China's most industrial centers. The Chinese government funded major development of heavy industry in Beijing during the 1950's and 60's. This led to the modernization of the Iron and Steel Works, which became one of the nation's main steel-producing facilities. Beijing now has highly developed machinery, textile, and petrochemical sectors, as well as an important agricultural sector to reduce its dependence on food supplies shipped from the Yangtze Valley. The service sector in China is also growing very rapidly. These sectors mainly consist of government agencies and the head offices of the largest banks in China. Major insurance companies, credit cooperatives, securities firms, investment companies, and tourism companies are a few of the many financial institutions in China. Beijing and its industries continue to grow rapidly each and every day.