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Three Characteristics of the Development of Beijing Service Industry

 

In “New Era Beijing Commercial Service Industry Internationalization and Branding Development Summit Forum” of the 5th CIFTIS, Shen Jinsheng, Deputy Director of Beijing Municipal Commission of Commerce, noted that in recent years, insisting on “Four Centers” urban strategy, Beijing had accelerated quality and efficiency improvement of service industry. Beijing commercial service industry showed a good momentum of smooth development. It had played an important role in building high-grade, precision and advanced industrial structure and enhancing capital core function. In 2017, Beijing’s value added in rental and commercial service industry amounted to 196.55 billion Yuan, accounting for 70% of Beijing’s regional GDP.

 

Three distinctive characteristics of the development of Beijing service industry:

 

1 Obvious headquarters economy.
In 2017, 56 enterprises from Beijing were among the Fortune Global 500 companies, accounting for 11.2%. It again accounted for nearly 50% of 115 Chinese enterprises which were listed in the Top 500. Beijing continued to be the city which had the most Top 500 companies in the world.

 

2 Rapid development of high-end commercial service industry.
In 2017, the operating revenues of consultation and survey for enterprises above designated size were 128.31 billion Yuan, increasing by 15.9% over the same period. The operating revenues of human resources service industry were 78.51 billion Yuan, increasing by 19.4% over the same period. The operating revenues of law service industry were nearly 15 billion Yuan, increasing by 16% over the same period.

 

3 Beijing’s enterprises in commercial service industry have obvious advantages in China.
Currently, 35 consulting companies of the world top 50 consulting companies have their offices in Beijing. In the list of Top 50 China Administration and Consulting Organization released by China Enterprise Confederation, there are 23 enterprises from Beijing, accounting for 46% of those in China. 6 of the world top 10 accounting firms have their offices in Beijing. In the list of 2017 Top 30 China Domestic Law Firms released by the famous legal media - Asian Legal Business, Beijing had 21 enterprises exclusively, accounting for nearly 70% of those in China.

 

In 2017, Beijing made excellent achievements in commercial service industry. Looking ahead, for commercial service industry which is an important part of Beijing’s high-grade, precision and advanced industry, the burden is heavy and the road is long. Shen Jinsheng also put forward several suggestions in his speech:

 

1 Be bold in making innovations for industrial development. Through making full use of new information technology such as artificial intelligence, cloud computation and big data, commercial service industry can flourish again. Via service innovation, format innovation and mode innovation, new vigor can be injected into the sustainable and healthy development of commercial service industry.

 

2 Strengthen standardization. Standard and specification for commercial service industry should be set up gradually. Adhering to higher standard, we should accelerate the formulation and popularization of standard for various commercial service industries and relevant areas. Improving quality with standardization; we should promote the development of branding and high-end with quality.

 

3 Insist on open development. With actively integrating into national development strategy, Beijing should further get the most out of its radiation and leading role of expansion and opening-up in commercial service industry. We should expand new space of opening-up and development for commercial service industry, build new advantages of opening-up and development, and indeed promote the brand of Beijing commercial service at home and abroad.