Beijing’s economy grew 6.7 percent year on year in 2017, lower than 6.8 percent growth registered in 2016, data from the Beijing Municipal Bureau of Statistics showed Friday.

The municipality’s gross domestic product totaled 2.8 trillion yuan (about 436 billion U.S. dollars) in 2017, accounting for about 3.38 percent of the country’s total output.

Notably, Beijing saw a 9.5 percent growth in its high-tech industry in the past year, and the municipality’s strategic new industries expanded 10.6 percent year on year, according to the bureau.

“In 2017, Beijing’s economy maintained stable yet progressive momentum,” said Pang Jiangqian, vice director of the bureau.