1990年以来,北京经济增长已经走过了一个完整的经济周期,1996年是该周期的拐点。从2003年开始,北京经济进入了新一轮增长周期。15年间,以1996年为界,前期出现高增长高通胀的局面主要是投资需求过热和经济发展受“瓶颈”制约的结果;后期出现高增长低通胀的局面主要是经济结构调 Since 1990, Beijing’s economic growth has gone through a complete economic cycle. 1996 is the inflection point of the cycle. Since 2003, Beijing’s economy has entered a new round of growth cycle. In the past 15 years, with 1996 as the boundary, the situation of high growth and high inflation in the previous periods was mainly due to the overheating of investment demand and the “bottleneck” in economic development. The situation of high growth and low inflation in the later period was mainly characterized by economic structural adjustment