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Beijing, home for corporate headquarters
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| Chinadaily
2009-9-9 17:38:00 |
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By Chen Bei
China continues to lure more high-power investors to set up their headquarters in the nation’s capital despite the current ?nancial crisis, said Shu Wei, deputy director of Beijing Municipal Commission of Commerce.
“To date, about 75 percent of the country’s 136 large-scale State-owned firms are headquartered in Beijing,” said Shu at a promotional meeting in eastern Chinese city of Xiamen during the ongoing 13th China International Fair for Investment and Trade (CIFIT) Tuesday. “Twenty-six ?rms in Beijing made it onto this year’s Fortune Global 500 list, accounting for more than half of the total number of Chinese ?rms who placed,” Shu added. The ?gure also made Beijing rank the third after Tokyo and Paris on the capital chart in terms of drawing Fortune 500 companies.
Multinational investment ?rms are also picking up their speed making inroads into Beijing. “Beijing has added eight new multinational investment ?rms in the past eight months, boosting the total number to 165,” said Shu. The growth rate is higher than last year, throughout which ?ve such ?rms were opened.
To attract more quality investment, Beijing authorities have sent a delegation of 98 members to attend the ongoing four-day CIFIT in a bid to improve the city’s investment climate. The star lineup includes vice-mayor Cheng Hong, the director of Beijing Municipal Commission of Commerce Lu Yan and Chaoyang, Haidian, Fengtai and Chongwen district chiefs.
“In years to come, we are looking to secure the projects that will help to widen the eastern area of the Beijing Central Business District (CBD),” said deputy director of Chaoyang district Wu Guiying, who is among other district chiefs brewing stimulus packages to develop in the post-Olympic economy.
To further boost the area’s industrial strength, the authorities plan to expand the CBD area by 3.97 sq km, from Chaoyang North Road northward to Nong Zhan South Road. “With the aim of becoming a high-end business zone, we place added importance on developing international finance,” said Wu, adding that “creative industry will also be a focus in our work agenda.” At present, about 90 percent of foreign news media in Beijing have chosen the CBD as their base.
While the Haidian district continues to develop its hi-tech, Fengtai district is launching a new project to develop the Lize Financial Business District, an upscale financial center with a projected completion date of 2020. “I believe that the area will distinguish itself by becoming a new center of economic growth in Beijing,” said the district’s chief.
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