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Briefing

Hong Kong: Finance and Banking

Appears in: Asia/Pacific, Finance and Banking, China, Hong Kong, Northeast Asia

Critical Issues

Background:

As China grows and works toward expanding its financial sector, Hong Kong has an increasingly important role to play exporting financial services. As one of the world's top financial centers, ranking fourth in the Global Financial Centres Index in March 2009, Hong Kong is a vital resource as China opens its economy and develops Shanghai as a financial center. Though Hong Kong's openness made it more vulnerable to the global financial crisis than China, Hong Kong was somewhat insulated because its banks were financing loans with deposits. As Hong Kong recovers, it will continue the process of becoming more investor-friendly and improving corporate governance.

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Associated Readings

Opinions Harvard International Review Richard Wong Apr 16, 2007 Shanghai: Another Hong Kong? Analysis Oxford Analytica Oxford Analytica Jun 10, 2009 Shanghai Shoots For Financial Status Opinions Financial Times Jeffrey Garten May 10, 2009 Amid economic rubble, Shangkong will rise Analysis City of London March 2009 The Global Financial Centres Index March 2009 Analysis HKTDC Jun 06, 2008 Hong Kong: Asia's Premier Fund-raising Platform and Investment Gateway Opinions Financial Times Feb 29, 2008 Financial Centers: Pulling power News Washington Post Ariana Eunjung Cha Oct 01, 2008 Financial Hubs See an Opening Up at the Top Blogs Economonitor Rachel Ziemba Oct 11, 2007 Editor Pick: Hong Kong's Financial Center and Ties with the Mainland Research Hong Kong Monetary Authority Lillian Cheung and Vincent Yeung Sep 28, 2007 Hong Kong as an International Financial Centre: Measuring its Position and Determinants Analysis Economist Sep 13, 2007 Asia's financial centres reflect its vast geography and divergent economies Analysis NBER Robert N. McCauley and Eric Chan June 2007 Hong Kong and Shanghai: Yesterday, today and tomorrow News Gulf News Feb 01, 2008 Hong Kong welcomes SWFs Research IMF Olaf Unteroberdoerster and Cynthia Leung Mar 05, 2008 Hong Kong SAR as a Financial Center for Asia: Trends and Implications Analysis IMF Olaf Unteroberdoerster, Cynthia Leung and Nathan Porter Feb 05, 2008 People’s Republic of China—Hong Kong Special Administrative Region: Saving and Investment in Hong Kong SAR and Other Financial Centers, Hong Kong SAR as a Center for Asia’s Financial Integration Analysis Knowledge@Wharton Nov 16, 2006 Out of Shanghai's Shadow: Why Hong Kong Is Becoming China's New Financial Services Center Analysis Hang Seng Bank October 2006 Strategies for Further Enhancing Hong Kong's Status as an International Financial Centre Analysis Hong Kong Monetary Authority Joseph Yam Nov 02, 2006 Hong Kong as an IPO Centre

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