Prepared by the East Asian Institute, NUS, which promotes research on East Asian developments particularly the political, economic and social development of contemporary China (including Hong Kong and Taiwan), this series of research reports is intended for policy makers and readers who want to keep abreast of the latest developments in China.

This text opens with a discussion of the nature, causes and consequences of the Asian Financial Crisis (AFC). It examines the impact the AFC had as well as offers answers for the questions: why was the economic downturn so severe and why was the territory initially a laggard in economic recovery?

This is an essential text for anyone working in the financial markets in Hong Kong. The book, written by a team of market professionals and academics associated with the Asian Institute of International Financial Law of the University of Hong Kong, provides a comprehensive review of the regulation of Hong Kong's financial markets

Based on previously unpublished archival records, this book makes a significant contribution to our understanding of the development of Hong Kong as one of the worlds premier international financial centres.

A trusted economic commentator provides a penetrating account of the threats to China's continued economic riseUnder President Xi Jinping, China has become a large and confident power both at home and abroad, but the country also faces serious challenges. In this critical take on China’s future, economist George Magnus explores four key traps that China must confront and overcome in order to thrive: debt, middle income, the Renminbi, and an aging population. Looking at the political direction President Xi Jinping is taking, Magnus argues that Xi’s authoritarian and repressive philosophy is ultimately not compatible with the country’s economic aspirations.Thorough and well researched, the book also investigates the potential for conflicts over trade, China’s evolving relationship with Trump, and the country’s attempt to win influence and control in Eurasia through the Belt and Road initiative.

-Illustrates the uniqueness of the Hong Kong banking supervisory and regulatory system;-Demystifies Hong Kong Money Authorities' monetary power in market stabilisation under the Basic Law;-Explains Hong Kong's Clearing system functions for the RMB offshore clearing hub; and-Examines and explains the changes and/or impact of the Chinese Policy on Hong Kong's common law and conflicts (sovereign immunity) concerning the issues of litigating in Hong Kong Courts.

There is much speculation regarding a “race for dominance” among financial centers in Asia, arising from the anticipated financial opening up of China. This frame of reference is, to an extent, a predilection that results from a traditional understanding of financial centers as possessing historical, geographic, and scale economy advantages. This paper, however, suggests that there is an alternative prism through which the evolution of financial centers in Asia needs to be viewed. It underscores the importance of “complementarity” rather than “dominance” to better serve regional and global financial stability. We posit that such complementarity is vital, through network analysis of the roles of Hong Kong SAR and Singapore as the current leading financial centers in the region. This analysis suggests that a competition for dominance can result in de-stabilizing levels of interconnectivity that render the global “network” as a whole more susceptible to rapid propagation of shocks. We then examine the regulatory and policy challenges that may be encountered in furthering such complementary coexistence.