Over 10,000 foreign-funded firms settle in Beijing's CBD

Another 600 foreign-funded companies settled in Beijing's central business district in 2019, bringing the total to over 10,000, which has shown the increasing internationalization of the capital, a senior official said on Jan 4.

Zhou Ying, an official at the CBD management commission, said currently a total of 550 foreign-funded companies including 88 multinationals have set up their headquarters in the area.

Statistics indicated that foreign companies contributed over 40 percent in total tax revenue from January to November of last year in the CBD, Chaoyang district.

In the first three quarters of 2019, the GDP of Beijing's CBD reached around 240 billion yuan ($34.4 billion), with a year-on-year growth of 7 percent.

Surrounded by foreign embassies, press and international organizations, Beijing's CBD has formed an all-around developing pattern, coordinating global finance, high-end businesses and the media industry.