Hong Kong SAR as a Financial Center for Asia: Trends and Implications

 
Author/Editor: Leung, Cynthia ; Unteroberdoerster, Olaf
 
Publication Date: March 01, 2008
 
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
 
Summary: We document Hong Kong SAR's evolving role as an international financial center in the Asia region, the importance of the growing special link with China as well as supply-side advantages, and outline the scope for future financial services growth. Hong Kong SAR has a long established track record as Asia's premier center for cross-border financial transactions. Further financial opening of China is likely to consolidate Hong Kong SAR's leading position as Asia's international financial center over the medium term. However, preserving Hong Kong SAR's first-mover advantage in the long-term calls for a development strategy that balances reaping the benefits from the special China role with the need to transcend into a truly international center in the long run.
 
Series: Working Paper No. 08/57
Subject(s): Financial sector | Hong Kong Special Administrative Region of China | Capital flows | Banking | Foreign direct investment

Author's Keyword(s): Financial integration | financial centers | international capital flows
 
English
Publication Date: March 01, 2008
Format: Paper
Stock No: WPIEA2008057 Pages: 18
Price:
US$18.00 (Academic Rate:
US$18.00 )
 
 
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