Banks and the emergence of Hong Kong as an international financial center

2002 ◽  
Vol 12 (4-5) ◽  
pp. 321-340 ◽  
Author(s):  
Catherine R. Schenk
Keyword(s):  
Hong Kong ◽  
Financial Center ◽  
International Financial Center

scholarly journals Financial centers of new industrial countries in the world financial architecture

2021 ◽  
Vol 70 (3) ◽  
pp. 188-199
Author(s):  
M. Savchenko ◽  
L. Tsybrii
Keyword(s):  
Hong Kong ◽  
Exchange Rate ◽  
Stock Market ◽  
Open Economy ◽  
Social Progress ◽  
Financial Architecture ◽  
The World ◽  
Financial Center ◽  
Definition Of ◽  
International Financial Center

The views of scholars concerning the definition of «international financial center», which makes it possible to formulate the definition of international financial center essence are summarized in this paper. The factors influencing the formation of international financial center incluing: stable financial system, stable currency, exchange rate stability, political and social stability in the country, favorable geographical location, developed financial infrastructure, open economy for free movement of capital, etc. are identified. The role of international financial centers in increasing their global competitiveness, achieving higher levels of economic growth, prosperity and social progress is substantiated. The classification of international financial centers is investigated. The place of the Hong Kong Financial Center in the financial architecture of the world is determined. The main parameters of the current state of the Hong Kong Financial Center: the USD / HKD exchange rate, the effective exchange rate index weighted by trade, the Hang Seng index, market capitalization, etc. are diagnosed. SWOT-analysis of the Hong Kong Financia Cente is carried out in order to identify its strengths, weaknesses, opportunities and threats. Based on the results of the problem of its functioning, a set of measures to improve competitiveness is also proposed. Hong Kong has favorable macroeconomic and institutional environment, qualified personnel, and is the fifth most competitive international financial center in the world. However, there is a low degree of international element in the domestic stock market, there is also risk of losing the status of «international financial center», other regional economies that have greater access to international investment opportunities in the stock market, such as Singapore, may be a threat. The financial center should focus on overcoming the effects of the coronavirus, promote the share of foreign investment in the economy, take a set of measures to overcome the country's recession, review legal, regulatory and tax requirements to promote development, improve quality of life and attractiveness, and become Asia's leading currency hub.

scholarly journals The Controversy of the Amendment of Anti-Extradition in Hong Kong-Threat to the people of Hong Kong

2019 ◽  
Vol 10 (3) ◽  
pp. 133-142
Author(s):  
Yu-Han Chen
Keyword(s):  
Hong Kong ◽  
Legal Assistance ◽  
Personal Safety ◽  
Mutual Legal Assistance ◽  
The People ◽  
Financial Center ◽  
Criminal Matters ◽  
High Degree ◽  
International Financial Center

Abstract The purpose of this article was to analyze the amendment of Fugitive Offenders Ordinance & Mutual Legal Assistance in Criminal Matters Ordinance, which caused widespread controversy in Hong Kong recently. This amendment stemmed from a murder case that occurred in Taiwan, which led the Hong Kong government to decide to fill the legal loopholes in the extradition law. The amendment abolished the prohibition of extradition of China and made the fundamental changes to the vetting procedure for extradition. However, based on the question to the judicial environment in China and the unequal relationship between Hong Kong and China, many Hong Kong people believed that the amendment would seriously threaten their personal safety. The amendment mattered important because people it affected were not only Hong Kong citizens, but also foreigners staying in Hong Kong. And as an important international financial center, the influence of Hong Kong couldn’t be underestimated. Therefore, the amendment had triggered a high degree of international concern. This article will analyze the contents of the amendment and the supports and the oppositions to clarify the dispute and discuss whether the amendment is good or bad.

Shanghai's Development as an International Financial Center

2005 ◽  
Vol 08 (01) ◽  
pp. 147-166 ◽  
Author(s):  
James Laurenceson ◽  
Kam Ki Tang
Keyword(s):  
Hong Kong ◽  
Comparative Perspective ◽  
Financial Center ◽  
International Financial Center ◽  
Widespread Interest

In 1949 Shanghai was the leading international financial center (IFC) in Asia. Recently the push of Shanghai to regain its long lost status of a regional IFC has begun to attract widespread interest. This paper first draws upon the IFC literature to highlight the factors that are considered to be important in determining the potential of a city to emerge as an IFC. Shanghai's progress is then measured against these criteria and is also placed in a comparative perspective by measuring against Hong Kong and Singapore.

Tokyo's Ultimately Failed Bid for First-Tier International Financial Center Status: Why Did It Fall Short?

2014 ◽  
Vol 13 (3) ◽  
pp. 1-25
Author(s):  
Huw McKay
Keyword(s):  
Timely Fashion ◽  
Financial Center ◽  
Japanese Yen ◽  
International Financial Center

Tokyo's bid to ascend to the very top tier of international financial centers (IFCs) was ultimately unsuccessful. This paper argues that to overcome the large disadvantages of being a latecomer, the IFC goal must be elevated above other competing objectives so that the necessary intermediate steps can be achieved in timely fashion. The most important specific failing was the inability of the Japanese yen to become a major international vehicle currency. With a sharper and earlier policy focus, particularly in the area of yen trade invoicing, Tokyo's bid for first tier IFC status would have been a more compelling one.

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