Beijing ranks No 1 as city with most Fortune 500 HQs



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

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Beijing , No 1 , Fortune 500 companies , HQ , overtakes , Tokyo

   

Next In Business News

CPO futures seen trending higher next week on expectation of stronger exports
Wall St Week Ahead-Soft landing hopes for US economy brighten outlook on stocks
India's palm oil imports fall in July as soyoil jumps to record high
Scarcity changes the LME warehousing game in Malaysia and elsewhere
Wide-body jet demand humming again as Boeing 787 rejoins the fray
Oil price falls 2% on expectations that US Gulf supply disruption will ease
GLOBAL MARKETS-Global stocks rise, U.S. yields fall as inflation slows
NYT targeted by activist investor pushing for subscriber-only bundles
‘Hopeless’: Chinese homebuyers run out of patience with developers
Steady retail outlook

Others Also Read