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People's Daily Online>>China Business

Number of foreign firms decreases in Beijing (2)

By Fu Zimei (People's Daily)

09:06, February 16, 2012

After the Regulation on the Administration of Registration of Resident Representative Offices of Foreign Enterprises (Regulation, for short) was published, the effects of the annual report and management system newly implemented were quite obvious, and a lot of representative offices “existing in name only” have been abolished.

The decrease of the newly-founded representative offices was caused by the fact that China ended the preferential policy on representative offices importing cars in 2009. The Regulation, which took effect in 2011, has further standardized and improved the supervision and management.

Both the number and investment scale of the enterprises founded by Hong Kong in Beijing rank first. And Japanese investment has significantly increased. Regarding the amount of the external registered capitals of the newly founded enterprises in Beijing, the top five sources are Hong Kong (1.479 billion U.S. dollars), Germany (435 million U.S. dollars), Japan (223 million U.S. dollars), the United States (178 million U.S. dollars) and Singapore (62 million U.S. dollars).

Compared with 2010, the registered capital of Hong Kong’s companies had not changed much. That of German companies had increased by more than 5 times, Japan’s by 86 percent, the United States' more than 20 percent, and Singapore's by 2.21 times (due to its small base number).

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