Beijing is not only the cultural and political center of China but is home to over 100 of China's largest companies. Its economy is based on the high-end manufacturing and service sectors. The tourism, media and IT industries are particularly prosperous in the Chinese capital. Although it does not have any exchanges for securities or other financial derivatives, Beijing is where China's market watchdogs and regulators are based. Alongside Shanghai, Beijing attracts multinational companies to base their China or Asia-Pacific headquarteres as it is said "If you want market go to Shanghai; if you want connections with the government go to Beijing."