Beijing sees rising number of foreign firms in 2017

The number of new foreign companies in Beijing hit 1,309 in 2017, an increase of 22 percent year on year, according to Beijing Municipal Commission of Commerce.

These companies include the U.S. multinational financial services companies Visa and MasterCard, and the second largest animation producer Huhu Studios in New Zealand.

Foreign investment flowing to the service industry hit 23.2 billion U.S. dollars last year, up 88.4 percent year on year, accounting for 95.4 percent of the total annual foreign investment.

Foreign investment in science and technology, Internet and information, and the travel industry also saw an increase.

In recent years, the Chinese cabinet has approved plans to advance opening of the service industry in the capital city.