POLITICS AND CULTURE
CITY FOCUS
62
During the first six months of 2012 , 13 of the world ’ s top 500 corporations invested in 16 new projects valued at more than $ 1.4bn at the time , or nearly one quarter of the total foreign investment at the time .
Today , research and development as well as marketing and procurement functions continue to be important to foreign companies with a Beijing connection . Numerous electronics and telecommunications companies have a major presence in the city ; they have had a major impact on the local economy over the past decade , flowing the equivalent of billions of dollars into the local economy .
TODAY , RESEARCH AND DEVELOPMENT AS WELL AS MARKETING AND PROCUREMENT FUNCTIONS CONTINUE TO BE IMPORTANT TO FOREIGN COMPANIES WITH A BEIJING CONNECTION ’
POLITICS AND CULTURE
Beijing is best known as China ’ s centre of political life and culture , and while it may be somewhat of a latecomer to the country ’ s overall economic life , it now ranks alongside Shanghai and Hong Kong as a major corporate destination , wielding great influence in financial circles . It is widely acknowledged as a haven for startups and for innovative entrepreneurs , providing fertile ground for expansion .
JULY 2018