Beijing is recognized as the political, educational, and cultural center of the People’s Republic of China. Its art treasures and universities have long made the city a centre of culture and art in China. The city is amongst the most developed in China with tertiary industry accounting for 73.2% of its GDP; it was the first postindustrial city in mainland China.
Finance is one of the most important industries of Beijing. There are 751 financial organizations in Beijing that generated 11.6% of the total financial industry revenue of the entire country. It is also accounts for 13.8% of Beijing’s GDP, the highest percentage of that of all Chinese cities.
Beijing is home to 26 Fortune Global 500 companies, the third most in the world behind Tokyo and Paris.Beijing is increasingly becoming known for its innovative entrepreneurs and high-growth start-ups. The culture is backed by a large community of both Chinese and foreign venture capital firms.