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Beijing Tops Shanghai and Shenzhen in attracting Transnational Corporations

A few days ago, Zhongguancun Innovation Way released 2018 White Paper on Opening Up and Innovation of Large Enterprises. According to the White Paper, about one-quarter of the Top 500 Enterprises are making their efforts to open up and make innovation in Beijing, Shanghai and Shenzhen. Among them, 72 are transnational corporations. Beijing tops the list in attracting transnational corporations.


The White Paper points out that by the third quarter of 2018, 216 large enterprises opened up and made innovation in Beijing, Shanghai and Shenzhen, accounting for 23.33% of the top 500 enterprises (a total of 926), close to a quarter. Among them, Beijing, Shanghai and Shenzhen had 163, 134 and 123 large enterprises among the Top 500 Enterprises.


Among these 216 large enterprises, there are 72 transnational corporations from 13 countries and regions such as the United States, Germany and the United Kingdom taking opening up and innovative moves in Beijing, Shanghai and Shenzhen, accounting for one-third of the sample size. Beijing ranked the first in attracting transnational corporations ahead of Shanghai and Shenzhen. Overseas giants have sped up their efforts in the global innovation layout and the position of Beijing as an innovation strategy center has been further improved. Besides, Beijing saw a year-on-year increase of about 45% in the number of transnational corporations settled, as many as 55.


From the perspective of Chinese enterprises, 144 Chinese enterprises (including enterprises of Hong Kong, Macao and Taiwan) from 21 provinces, municipalities and special administrative regions including Beijing, Shanghai, Shenzhen and Guangdong opened up offices in Beijing, Shanghai and Shenzhen. Large enterprises of Beijing held the largest share among Chinese enterprises, accounting for over 50%.


The White Paper also shows that these large enterprises focused their opening up and innovative efforts in the fields of industry, information technology and finance, etc. Among large enterprises settled in Beijing, Shanghai and Shenzhen, over 60% are specialized in providing industry, information technology, finance and consumer necessities, of which industrial enterprises ranked first, accounting for over one-fifth.


From the development of the past years, since 2015, large enterprises have significantly accelerated their efforts in opening up and innovation. Compared with Shanghai and Shenzhen, Beijing had the earliest start and faster development. "The diversification of the opening up and innovation methods of large enterprises in Beijing has been further enhanced. They have built opening up and innovation platforms; have launched and made innovative ways for games and activities and also have their utilization ratio of capital investment increased significantly. Among these efforts, the construction of platforms for opening up and innovation saw a growth rate of as high as about 142%."