BEIJING: The long-running battle among China's top-tier cities to attract foreign capital is heating up.

Not content to be just China's political capital, Beijing aims to become a top commercial centre with a recent slew of fresh incentives to draw multinational companies (MNCs) to set up their Asian headquarters in the city.

It is pitted against archrival Shanghai, which had unveiled a new and improved version of its own incentive package last year.

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