Foreign firms take bite out of financial core

Multinational companies have quickened the pace in leasing office space in Beijing, showing confidence in the Chinese market and giving a clear sign that the recovery from the global financial crisis is continuing.

In the fourth quarter of 2009, foreign companies were involved in the leasing of 52 percent of the office space leased in the capital, up 20 percent on the third quarter.

Julien Zhang, managing director of Jones Lang LaSalle, Beijing, said demand from State-owned enterprises dominated during the first three quarters but multinational companies became active in the third quarter, participating in several large transactions.