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The city of Beijing has a total of 48 Fortune Global 500 companies' headquarters, replacing Tokyo at the top of the ranking for the first time, China Economic Net (www.ce.cn) reported on Wednesday.
"These Beijing-based headquarters are being encouraged to set up their own entities. Meanwhile, it is expected that the capital will have another 15 or so regional headquarters of foreign-funded multinational companies and about 20 private enterprise headquarters this year," a representative of the Beijing Municipal Commission of Commerce said.
Since a number of measures were taken by the city to facilitate trade last year, imported goods can take 23.5 hours on average to pass through customs while, in contrast, exported goods take only 1.8 hours, said Tang Yonghong, an official from the Commission.
