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The Financial Centres of Shanghai and Hong Kong: Competition or Complementarity?

Bas Karreman and Bert van der Knaap

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

Abstract: The contemporary rise of China in the new geo-economy is increasingly pressurising the spatial distribution of financial activity in mainland China and Hong Kong. With the re-emergence of Shanghai, many people foresee the furture demise of Hong Kong as the most important financial centre for the China mainland. This paper shows that conviction seems rather premature. Bases on the concepts of comparative advantage and market segmentation, the extent to which Shanghai and Hong Kong can be considered complementary financial centres is assessed. By using the listings of mainland China based companies on the stock exchange of each financial centre, it is shown that both cities do not only appear to have distinct hinterlands but they also differ strongly in terms of sectoral specialisation.

Keywords: China; Geography of finance; Hong Kong; Shanghai; financial centres; urban competition (search for similar items in EconPapers)
JEL-codes: G21 M M13 O18 O32 (search for similar items in EconPapers)
Date: 2007-09-13
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Citations: View citations in EconPapers (3)

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https://repub.eur.nl/pub/10516/ERS-2007-062-ORG.pdf (application/pdf)

Related works:
Journal Article: The Financial Centres of Shanghai and Hong Kong: Competition or Complementarity? (2009) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ems:eureri:10516

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