Based on previously unpublished archival records, this book studies the origins of Hong Kong's post war rise to global prominence. It explores the expansion of the gold market, stock market, banking system, foreign exchange market, and insurance in the years 1945-1965. This book makes a significant contribution to our understanding of the developme

This book provides an overview of Hong Kong’s role as an international financial centre, focusing especially on how Hong Kong has contributed significantly, and continues to contribute significantly, to China’s economic development. It considers the importance of Hong Kong’s stock market in raising finance for Chinese companies, explores the potential of Hong Kong as an offshore financial centre, and discusses recent regulatory reforms. It concludes by assessing the prospects for Hong Kong’s continuing success as a global financial centre, and puts forward recommendations for policies which would help secure continuing success.

This book analyzes the role of Hong Kong as a prominent financial centre . Issues such as taxonomy of financial centres, reasons for Hong Kong's past success, competition from other centres, policy issues, and speculation upon Hong Kong's future are discussed.

Promotes greater understanding of democratic ideals, values, culture, institutions, and conditions making for the establishment of quality democracy in the Hong Kong SAR, within the framework of the Basic Law and in accordance with the principle of "One Country, Two Systems", and to formulate recommendations for the steps to be taken to achieve this end; 3. [...] As the historian Steven Tsang put it, behind the scenes "government remained the largest employer, the biggest developer of real estate, the leading constructor, the largest landlord, and the biggest 10 provider of education and health services."2 The government's objective, however, was to maximize Hong Kong's autonomy, and specifically to liberate it from explicit direction by the British Treasu. [...] As to the reasons for the emergence of these centres, Cassis emphasized the irreducible national roots of banking, debt, and equity laws, the mandates and activities of central banks, the monetary conditions conducive to the agglomeration of financial services, and finally the ebb and flow of local economic and social conditions. [...] In the context of rising competition and periodic bouts of instability in financial markets around the world, the question of 'who benefits' shaped diverging views on the reform of a broad range of Hong Kong's the policies underpinning its IFC. [...] As Meyer put it, "The reason is the centrality of Hong Kong in the business networks of Asia, especially because it is the pivotal meeting place of the Chinese and foreign networks of capital."20 With foreign networks well established during the British era, the biggest change in the contemporary period has come from the rapid development of Chinese networks.

This is a case study of legal transplant, economic development, cultural adaptation and political integration. Hong Kong's journey from British entrepôt to China's international financial centre is one of the most interesting legal stories of our time. But Hong Kong's future is even more interesting: will this region with British-origin institutions survive full integration into China and become its permanent international financial centre? Does Hong Kong have the legal infrastructure to compete effectively with Shanghai and Singapore, and even New York and London? A Financial Centre for Two Empires presents Hong Kong's story, examines its corporate economy and securities market, assesses its corporate, securities and tax laws for doctrinal soundness and appropriate remedies, and evaluates the quality of their enforcement empirically. It closes with a view of Hong Kong from the perspective of developments in Beijing and Shanghai, including an examination of the important political dimension.

This book provides unique insights into the politics of finance and the socio-political relations which drive financial policymaking in Hong kong, Singapore, and Shanghai. While the existing literature in the field focuses mainly on economic explanations for financial centre development, this book fills a gap by focusing on the socio-political relations which underpin the financial policy-making process. Drawing on extensive interviews with senior policy-makers and financial sector professionals, the book describes how state-industry relations drive financial policy-making in three major financial hubs. Insights and policy recommendations drawn from these interviews will be particularly useful for policy-makers and financial sector professionals hoping to draw lessons from the successful development of the three leading Asian financial centres. Business and Politics in Asia's Key Financial Centres draws on public policy theoretical frameworks for its analytical basis. The three chapters focusing on the historical development of Hong Kong, Singapore, and Shanghai also provide a consolidated narrative with regard to the development of these three cities as leading financial centres, while also serving as independent case studies. Scholars focusing on policy processes and political factors that underpin financial sector development, as well as instructors and students of public policy, international political economy, and financial sector policy, will find this book useful for their research.