Beijing ranks No 1 as city with most Fortune 500 HQs - Business News | The Star Online

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Beijing ranks No 1 as city with most Fortune 500 HQs


A view of the skyline of a central business district in Beijing on Nov 27, 2013. Beijing has overtaken Tokyo as the city with the most HQ of Fortune 500 companies - AFP Photo.

A view of the skyline of a central business district in Beijing on Nov 27, 2013. Beijing has overtaken Tokyo as the city with the most HQ of Fortune 500 companies - AFP Photo.


BEIJING: Beijing has recorded a total of 48 headquarters of companies on the Fortune's Global 500 list in 2013, overtaking Tokyo for No1 for the first time in the ranking of city with the most profitable companies in the world.

Tokyo recorded a total of 47 companies' headquarters on Fortune 500 list in 2013.

Xinhua news agency reported that companies headquartered in Beijing are seen as an important economic driver in the city. They accounted for about 25% of the total jobs created in the city and generated nearly 60% of the city's revenues and taxes.

Meanwhile, Director of Beijing Municipal Commission of Commerce Lu Yan, said apart from drawing another 20 private enterprises to set up their headquarters this year, Beijing aims to attract 15 more foreign multinational companies to set up their regional headquarters in the city this year.

Currently, more than 700 foreign multinationals firms and research and development centres are headquartered in Beijing.

In the annual rankings report released by Fortune magazine last year, China ranked as the second country with 89 companies listed in the top 500, behind the US which had 132 companies, and followed by Japan with 62. – Bernama

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