Beijing's CBD to continue internationalization

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A total of 550 enterprises have set up their headquarters in Beijing's CBD, including 88 regional headquarters of transnational corporations, and the area also witnessed more than 300 foreign-funded enterprises registered in the first half of this year, said Lin Keqing, executive vice mayor of Beijing, at a forum on Wednesday.

Lin said Beijing will continue to promote internationalization in its key functional areas such as the CBD. Themed with "Global Vision and Industrial Insights into the Future of a City," the forum marked its 20th anniversary this year.

The district has 92 buildings each producing a tax revenue of more than 100 million yuan (US$14.19 million), of which seven produce tax revenues of more than 1 billion yuan. In the first half of 2019, the total tax revenue from foreign-funded enterprises reached nearly 30 billion yuan, accounting for 43% of the CBD's total. It has also been reported that the CBD is working with Morgan Stanley, Samsung China, and Knorr-Bremse for future cooperation.

Lin said that the CBD is an important high-end industrial functional area for Beijing. After more than 20 years of development, it has gathered more than 70% of grade A-plus office buildings, 90% of international financial institutions, and 50% of regional headquarters in Beijing. The CBD has thus become a frontier for the opening up of the capital and an important window for international exchanges.

Lin also said the CBD is now implementing its "Three-year Action Plan for Internationalization Enhancement." The plan will focus on improving spatial form, providing public services, and strengthening urban governance capabilities. He said Beijing will vigorously support the reform and development of the CBD and Chaoyang district, where it is located, and further improve the development quality of the CBD.

Also, a white paper titled "Ecological Construction and Development of Business Centers" was issued at the forum, aiming to examine the development trend of new economy and new technology from the perspective of enterprises, so as to provide intellectual support for the formation of ecosystems in the CBD. On the same day, the Beijing International CBD Ecological Alliance was launched. The alliance is expected to push forward the integration of the office-space property, resource sharing, and cross-border cooperation.

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