GLOBAL BUSINESS IN BEIJING
BEIJING jing . Indeed , one word which characterises Beijing is ‘ connected ’. The city is well on its way to becoming a cashless society , according to many observers , with financial transactions routinely handled electronically and primarily via smartphone .
Facial recognition software is already in use to facilitate not only financial transactions , but speed human access to homes , apartments and offices , even confirming identities for service providers like taxi drivers and home deliveries . But that ’ s only the beginning : a new technology park will become home to more than 400 businesses dedicated to developing and perfecting AI technology for futuristic biometrics and even self-driving vehicles .
GLOBAL BUSINESS IN BEIJING
Interestingly , though , China Mobile only ranks fifth on the list of largest companies in Beijing . Holding first and second places , respectively , are the Sinopec Group and China National Petroleum , both oil producers . State Grid Corporation is the country ’ s electric monopoly and the world ’ s largest utility company , ranking third , and the Industrial and Commercial Bank of China holds fourth place .
Since 1980 , Beijing has also become a ‘ magnet ’ for multinational companies of all kinds .
61 asia . businesschief . com