At least 58 of the world's 500 top companies are now doing business in Guangzhou, capital of south China's Guangdong Province.

Information from the municipal commission of foreign trade and economic cooperation reveals that by August this year, these companies had started 98 projects by investing 3.2 billion US dollars in the city.

These firms are from countries including Japan, the United States, Germany, Sweden, France, Britain, and the Netherlands. Eighty-five of the 98 projects are industrial ones specializing in manufacture of petrochemical commodities, electronic telecommunications equipment, automobiles and components, and iron and steel products. The remainder are engaged in the service industry.

Local officials attribute the presence of leading global companies in Guangzhou to the city's central position in south China and its improved investment environment.

Guangzhou has also held a number of investment promotion activities, with priority given to attracting more multinational corporations. (Xinhua)