Beijing's Central Business District (CBD) in Chaoyang district is home to 10,057 foreign-invested companies as of the end of 2017, including the headquarters of 83 multinational companies, over 50 percent of the total in Beijing.
CBD home to over 10,000 foreign-invested companies
The number of foreign-invested companies in the CBD surpassed 10,000 for the first time last year. They combined to contribute 51.28 billion yuan in taxes, boosting the CBD's aggregate tax revenue to 120 billion yuan, 60 percent of the total in Chaoyang district in 2017. The regional headquarters of top multinationals such as Samsung, Shell, Toyota and Volkswagen account for only 0.04 percent of companies in the CBD, but they contributed to 14 percent of the area's total tax revenue.
During the past year, 5,235 new companies took root in the CBD, adding 100 billion yuan in registered capital. Meanwhile, 117 multinationals have headquarters in Chaoyang district, 70 percent of the total in Beijing, and over 170 of the top 500 companies from 12 countries and regions overseas have set up over 480 foreign-invested organizations in Chaoyang district.
Customized policy support and services
In 2017, the CBD's management committee paid regular visits to major companies to learn about how to offer better policy support and customized services. The CBD established a coordinative mechanism among different government departments to address investment and operational issues raised by the multinationals.
The CBD also streamlined its administrative procedures and promoted its online platform for business registrations. In addition, the CBD has a digital platform capable of monitoring and managing potential emergencies in real time, linking up with the building management system in the district's various office buildings.
Fostering foreign talents in Beijing
The CBD also set up communication channels with commerce chambers, multinational clubs and human resource manager groups to promote communication with business associations from the EU, the U.K., the U.S., Canada, Japan and South Korea, so as to help them understand policies better.
The CBD has taken the lead to enhance services for foreign talents, and carried out pilot programs for foreigners to apply for entry into China, thus supporting their development in Beijing.