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Beijing to Become Multinationals' Bridge to China Market
Amid a new wave of overseas investment in China, potentially the largest market in the world, the Chinese capital will attract more and more multinationals and serve as a bridge for them to enter the Chinese market, said Jia Qinglin, secretary of the Beijing Municipal Committee of the Communist Party of China (CPC).
Jia made the remark at a seminar on the development of multinationals in Beijing, which attracted business representatives from 29 multinationals including Siemens, Shell, Matsushita, ABB, Intel and Ericsson.
Jia is also a member of the Political Bureau of the CPC Central Committee.
He said that the city will endeavor to enhance the efficiency of governments at all levels and simplify procedures for investment approval, and improve infrastructure and services for foreign businessmen living in the city.
The city will guide foreign companies, especially multinationals to invest in new and high-tech industries, infrastructure, environmental protection and reform of state-owned enterprises, he added.
Vice mayor Zhang Mao said at the same venue that the city will focus on the development of electronics and information, biological projects and new medicines, new materials and other high-tech areas.
Beijing will encourage multinationals to set up operational units of various forms in Beijing and allow them to buy state- owned enterprises, according to Zhang.
Zhang noted that Beijing will open more sectors to foreign companies and will be more flexible in using foreign investment, such as risk capital.
Statistics show that 158 out of the world's top 500 companies have a stake in Beijing, and 15 of which have set up their regional headquarters in the city.
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