25 transnational corporations have regional HQs in Beijing

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Last updated at: (Beijing Time) Saturday, March 27, 2004

25 transnational corporations have regional HQs in Beijing

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So far, 25 transnational corporations have set up their regional headquarters in Beijing, capital of China, according to sources at a forum on promoting development of transnational corporation regional headquarters held in Beijing.

Liu Qi, secretary of the Beijing municipal committee of the CPC,and Wang Qishan, mayor of Beijing, participated in the forum with representatives from transnational corporations in Beijing, including Motorola, Novozymes, Hewlett-Packard, ABB, Ericsson and Microsoft, and others from foreign chambers of commerce including the United States, the EU, Japan, Switzerland and Australia.

In order to provide a more favorable environment for transnational corporations to set up their regional headquarters in Beijing, Beijing is making amendments and improvements to the rules and implementing details to encourage transnational corporations to set up their regional headquarters in Beijing after studying the experiences of other countries and regions and the special conditions of China, said the mayor.

Now China is in a golden 20 years has seen the rapid development of its economy. As the capital of China, Beijing is the economic policy and information center of the country, and although it is not the manufacturing center of China, it boasts a very mature and advanced market, which makes the capital a big magnet for foreign businessmen, said Wang.

Wang emphasized the importance of improving the environment fortransnational corporations to set up their regional headquarters in Beijing.

And Liu introduced the major measures of the capital to promoteits city construction and development this year such as the establishment of a more open and orderly market system and an effective foreign economic management and service system.

Besides regional headquarters, 137 transnational corporations have set up their investment companies in Beijing and 95 have set up their independent research and development companies in China'scapital.

Source:Xinhua

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