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Despite the Great Recession of 2008, European refugee crisis of 2015, and the unexpected outbreak of COVID-19 pandemic of 2020, China has consistently maintained economic growth and at the same time has emerged as a new global giant in the international arena. Emboldened by China’s growing interaction with the global economy and robust growth of its domestic economy, various cities have joined the race for the status of national and even international financial centres. This chapter zooms in on a “local” examination of internal conditions for emergence and growth of Chinese financial centres in a near future. Cities contending for the top slot in the roster of Chinese cities, notably Beijing, Shanghai and Shenzhen, are striving to become International Financial Centres (IFCs), aiming to overtake Hong Kong. This chapter investigates the developmental potentials, prospects, and division of functions between different financial centres within China regarding Hong Kong, Beijing and Shanghai, with reference to the role of information and locations of multinational corporations’ (MNCs) regional headquarters.

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Emerging and Spatial Restructuring of Financial Centres in Mainland China and Hong Kong: An Empirical Study and Assessment

  • 章节

  • 发表日期：

    2025年

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  • Simon X.B. Zhao,
  • Yan Bo,
  • Neo Ying Ming Chan

摘要

Despite the Great Recession of 2008, European refugee crisis of 2015, and the unexpected outbreak of COVID-19 pandemic of 2020, China has consistently maintained economic growth and at the same time has emerged as a new global giant in the international arena. Emboldened by China’s growing interaction with the global economy and robust growth of its domestic economy, various cities have joined the race for the status of national and even international financial centres. This chapter zooms in on a “local” examination of internal conditions for emergence and growth of Chinese financial centres in a near future. Cities contending for the top slot in the roster of Chinese cities, notably Beijing, Shanghai and Shenzhen, are striving to become International Financial Centres (IFCs), aiming to overtake Hong Kong. This chapter investigates the developmental potentials, prospects, and division of functions between different financial centres within China regarding Hong Kong, Beijing and Shanghai, with reference to the role of information and locations of multinational corporations’ (MNCs) regional headquarters.