How Hong Kong Became an International Financial Centre

DOI

10.2991/978-94-6463-538-6_2How to use a DOI?

Keywords

Hong Kong; International financial center; Course; Financial liberalization

Abstract

This paper studies the history of Hong Kong becoming an international financial center, analyzes its development status, history and advantages and disadvantages of becoming a global financial center. The study found that the development of Hong Kong’s financial markets is influenced by factors such as economic freedom, the Belt and Road policy, and relations with the mainland. Foreign banks in the colonial era, the early development of the insurance industry, and changes in the gold market and monetary system laid the foundation for the prosperity of Hong Kong’s financial market. With the transformation of economic structure and the formation of six pillar industries, Hong Kong has gradually become an industrial economy and attracted investment from Chinese capital. However, the development of Hong Kong’s financial center also has some disadvantages, such as unbalanced development of financial institutions, insufficient innovation and small hinterland for development. Finally, this paper looks forward to the future development of Hong Kong’s finance, pointing out the need to further develop technology finance, expand the overall scale and other measures. Through this study, it is helpful to understand the course of Hong Kong becoming an international financial center, and it is of great significance to further promote the development of Hong Kong’s financial market.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Haoran Jin
PY  - 2024
DA  - 2024/10/01
TI  - How Hong Kong Became an International Financial Centre
BT  - Proceedings of the 4th International Conference on Economic Development and Business Culture (ICEDBC 2024)
PB  - Atlantis Press
SP  - 4
EP  - 10
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-538-6_2
DO  - 10.2991/978-94-6463-538-6_2
ID  - Jin2024
ER  -