Author: desperado123

Shanghai, or Hongkong which one would be the financial center of China? [Copy link] 中文

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Post time 2008-8-15 12:29:05 |Display all floors

Reply #98 pjtran's post

joe! joe!

that's why we have a bridge linking Macao to Hong Kong.
and a Guangzhou outreach!

ha ha ha


you Amerikans try hard! don't you!


ha ha ha


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Post time 2008-10-19 21:46:57 |Display all floors
Beijing could become a global financial hub
By Zhang Yuwei

(China Daily)
2008-10-18

With the meltdown of global financial markets impacting economies around the world, Chinese financial experts said Beijing is well positioned to secure its place as a global financial hub.

The Chinese capital is a city full of talents and industries with the potential for substantial development.

Key sectors such as financial services, real estate, IT, automobile, retail and hospitality are flourishing.

In 2007, Beijing's financial industry contributed 20.5 percent to local economic growth, generating a revenue of 128.6 billion yuan.

At New York's Beijing Financial Industry Cooperation Summit on October 14, a panel of financial service officials from Beijing and experts from New York discussed Beijing's role and potential in becoming a global financial center.

Representatives from Bank of Beijing, Huaxia Bank, and Beijing Rural Commercial Bank - three of Beijing's leading banks - spoke of their plans to establish an improved global network with foreign companies that do business in China.

Zhou Weimin, deputy division chief of Beijing investment promotion bureau, said: "Our goal is to provide a better and more stable environment for foreign investors in China through more effective communication between the government agencies and foreign financial institutions."

The past few weeks have seen the collapse and bailout of a number of US financial institutions. When asked what measures Beijing should employ under the current circumstances, Henry Tang, a founding partner of the Carnegie Towers Group, a global strategic investment advisory organization, said: "Don't go to excess."

The pressure to deliver earnings, according to Tang, was one of the problems that triggered the financial crisis in the US. In fact, high-earning mortgage-based derivatives have been recognized as a catalyst of the recent financial turmoil on Wall Street.

Tang, a financial expert with over 35 years of experience, said it was time to rethink derivatives. "It (the current financial meltdown) is a nightmare in financial industry," he said.

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Post time 2008-10-22 12:29:11 |Display all floors

Reply #100 buddy35's post

Beijing by just "housing the Central government" on what is potentially the LARGEST ECONOMY of the world is a FINANCIAL HUB of it's own class.

Doubt it could be a global financial hub.
which Wealthy citizen wants to live next door to the bureacrat who can throw him into prison with any slight reasons.

ha ha ha

naw! You just jest too much,
Go and drink more liqour before you post again, mr. buddy!


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Post time 2008-10-27 14:26:17 |Display all floors

HongKong will be winner

To my mind, HongKong will be winner. After all, HongKong has the background. To compare with Shanghai, HongKong is more modern.

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Post time 2008-10-28 10:40:02 |Display all floors

Reply #102 lamaya's post

In the current situation, better sit tight and watch carefully as the derivatives time bombs keeps on going PUFF!


no time to quarrel over other matters now!


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Post time 2008-11-5 12:01:30 |Display all floors
I worked in Hong Kong and studied at Fudan. Historically speaking, Shanghai was a hub for business when it was made an open port by the British. Shanghai now has been out of the international trading game too long. Shanghai has unfortunately been set back too far to catch up to Hong Kong and that is clearly seen not only in the economy but also lifestyle, culture, standard of living, manners, etc. that are other important (and in my opinion more important) indicators of development that cannot be measured by pure numbers.

Hong Kong, no matter how much help from the central government Shanghai gets, will always maintain its level and never go backwards. That is because Hong Kong is much more self sufficient than Shanghai. Shanghai always compares itself to Hong Kong but Hong Kong never compaers itself to Shanghai. That is a difference in mentality.

I believe Shanghai will play a major role in the future on the international stage but it will take more time. Perhaps instead of always competing with Hong Kong, Shanghai should find its own identity; not as the New York of China but the Shanghai of America. Shanghai should forge and work ahrd on its own identity and through that, will become a powerful city.

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Post time 2008-11-5 12:08:44 |Display all floors

Reply #104 ksk103's post

i believe Shanghai can be a big hub on RENMIMBI denominated financial instruments.
now, how large can Mainland China's economy become?
that's the question.

ha ha ha

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