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Article: The Rise of China and Development of Financial Centres in Hong Kong, Beijing, Shanghai and Shenzhen

TitleThe Rise of China and Development of Financial Centres in Hong Kong, Beijing, Shanghai and Shenzhen
Authors
KeywordsInternational Financial Centre
Chinese financial framework
Financial services and functions
The rise of China
Hong Kong
Issue Date2013
PublisherUchitel Publishing House. The Journal's web site is located at http://www.socionauki.ru/journal/jogs_en/
Citation
Journal of Globalization Studies, 2013, v. 4 n. 1, p. 32-62 How to Cite?
AbstractAs China's economy becomes more integrated with the world, several financial centres are expected to grow within the Chinese financial system. Hong Kong and Shanghai are unarguably the prime financial centres in China's economy, but Beijing and Shenzhen perform unique and irreplaceable functions in China's financial framework. This paper examines the strengths and competitiveness of Hong Kong, Beijing, Shanghai and Shenzhen through a wide range of market assessments in stock, bond, funds markets, futures and derivatives as well as the foreign exchange market and the presence of corporate headquarters to reveal how the development of financial centres in China relates to the rise of China's economy. The findings suggest that Hong Kong performs the role of an international financial centre in the Greater China region in terms of possessing highly internationalized financial industries and a sound legal environment, while Shanghai, Beijing and Shenzhen have strong points in domestic financial services and functions; together they not only represent the symbolic rise of China but also contribute to the fast growth of China and Asian economies.
Persistent Identifierhttp://hdl.handle.net/10722/189139
ISSN

 

DC FieldValueLanguage
dc.contributor.authorZhao, SXen_US
dc.contributor.authorLao, Qen_US
dc.contributor.authorChan, NYMen_US
dc.date.accessioned2013-09-17T14:27:26Z-
dc.date.available2013-09-17T14:27:26Z-
dc.date.issued2013en_US
dc.identifier.citationJournal of Globalization Studies, 2013, v. 4 n. 1, p. 32-62en_US
dc.identifier.issn2075-8103-
dc.identifier.urihttp://hdl.handle.net/10722/189139-
dc.description.abstractAs China's economy becomes more integrated with the world, several financial centres are expected to grow within the Chinese financial system. Hong Kong and Shanghai are unarguably the prime financial centres in China's economy, but Beijing and Shenzhen perform unique and irreplaceable functions in China's financial framework. This paper examines the strengths and competitiveness of Hong Kong, Beijing, Shanghai and Shenzhen through a wide range of market assessments in stock, bond, funds markets, futures and derivatives as well as the foreign exchange market and the presence of corporate headquarters to reveal how the development of financial centres in China relates to the rise of China's economy. The findings suggest that Hong Kong performs the role of an international financial centre in the Greater China region in terms of possessing highly internationalized financial industries and a sound legal environment, while Shanghai, Beijing and Shenzhen have strong points in domestic financial services and functions; together they not only represent the symbolic rise of China but also contribute to the fast growth of China and Asian economies.-
dc.languageengen_US
dc.publisherUchitel Publishing House. The Journal's web site is located at http://www.socionauki.ru/journal/jogs_en/en_US
dc.relation.ispartofJournal of Globalization Studiesen_US
dc.subjectInternational Financial Centre-
dc.subjectChinese financial framework-
dc.subjectFinancial services and functions-
dc.subjectThe rise of China-
dc.subjectHong Kong-
dc.titleThe Rise of China and Development of Financial Centres in Hong Kong, Beijing, Shanghai and Shenzhenen_US
dc.typeArticleen_US
dc.identifier.emailZhao, SX: sxzhao@hku.hken_US
dc.identifier.emailChan, NYM: neochans@hku.hken_US
dc.identifier.authorityZhao, SX=rp00597en_US
dc.identifier.hkuros224057en_US
dc.identifier.volume4en_US
dc.identifier.issue1-
dc.identifier.spage32en_US
dc.identifier.epage62en_US
dc.publisher.placeRussian Federation-

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