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Author: Yan-leung Cheung Publisher: Taylor & Francis ISBN: 1317284771 Category : Social Science Languages : en Pages : 154
Book Description
This book provides an overview of Hong Kong’s role as an international financial centre, focusing especially on how Hong Kong has contributed significantly, and continues to contribute significantly, to China’s economic development. It considers the importance of Hong Kong’s stock market in raising finance for Chinese companies, explores the potential of Hong Kong as an offshore financial centre, and discusses recent regulatory reforms. It concludes by assessing the prospects for Hong Kong’s continuing success as a global financial centre, and puts forward recommendations for policies which would help secure continuing success.
Author: Yan-leung Cheung Publisher: Taylor & Francis ISBN: 1317284771 Category : Social Science Languages : en Pages : 154
Book Description
This book provides an overview of Hong Kong’s role as an international financial centre, focusing especially on how Hong Kong has contributed significantly, and continues to contribute significantly, to China’s economic development. It considers the importance of Hong Kong’s stock market in raising finance for Chinese companies, explores the potential of Hong Kong as an offshore financial centre, and discusses recent regulatory reforms. It concludes by assessing the prospects for Hong Kong’s continuing success as a global financial centre, and puts forward recommendations for policies which would help secure continuing success.
Author: Mrs.Vanessa Le Lesle Publisher: International Monetary Fund ISBN: 149835713X Category : Business & Economics Languages : en Pages : 46
Book Description
There is much speculation regarding a “race for dominance” among financial centers in Asia, arising from the anticipated financial opening up of China. This frame of reference is, to an extent, a predilection that results from a traditional understanding of financial centers as possessing historical, geographic, and scale economy advantages. This paper, however, suggests that there is an alternative prism through which the evolution of financial centers in Asia needs to be viewed. It underscores the importance of “complementarity” rather than “dominance” to better serve regional and global financial stability. We posit that such complementarity is vital, through network analysis of the roles of Hong Kong SAR and Singapore as the current leading financial centers in the region. This analysis suggests that a competition for dominance can result in de-stabilizing levels of interconnectivity that render the global “network” as a whole more susceptible to rapid propagation of shocks. We then examine the regulatory and policy challenges that may be encountered in furthering such complementary coexistence.
Author: David C. Donald Publisher: Cambridge University Press ISBN: 1107004802 Category : Business & Economics Languages : en Pages : 295
Book Description
An historical, empirical, doctrinal and comparative case study of how a former British colony became China's international financial centre.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344356 Category : Business & Economics Languages : en Pages : 64
Book Description
The external sector assessments use a wide range of methods, including the External Balance Assessment (EBA) developed by the IMF’s Research Department to estimate desired current account balances and real exchange rates (see Annex I of the 2015 External Sector Report, also IMF Working Paper WP/13/272 for a complete description of the EBA methodology). In all cases, the overall assessment is based on the judgment of IMF staff drawing on the inputs provided by these model estimates and other analysis and the estimates are subject to uncertainty. The assessments discuss a broad range of external indicators: the current account, the real effective exchange rate, capital and financial accounts flows and measures, FX intervention and reserves and the foreign asset or liability position. The individual economy assessments are discussed with the respective authorities as a part of bilateral surveillance.
Author: International Monetary Publisher: International Monetary Fund ISBN: 1513573276 Category : Business & Economics Languages : en Pages : 57
Book Description
he Hong Kong Special Administrative Region (HKSAR) is among the world’s major fintech hubs, well positioned to develop fintech initiatives from its traditional strengths in financial services. Key factors enabling the HKSAR to emerge as a fintech hub include its presence as an international financial center, its free-flowing talent and capital, a highly developed information and technology communication (ITC) infrastructure, and its most unique trait, a geographical and strategic advantage by proximity to the market in Mainland China.
Author: International Monetary Publisher: International Monetary Fund ISBN: 1513584073 Category : Business & Economics Languages : en Pages : 26
Book Description
Hong Kong SAR has significantly strengthened its crisis management arrangements through a thorough update of the framework for resolution of financial institutions, as recommended by the 2014 Financial Sector Assessment Program. The 2017 Financial Institutions (Resolution) Ordinance (FIRO) creates a resolution regime that is clear, comprehensive in scope, and closely aligned with the Financial Stability Board (FSB) Key Attributes of Effective Resolution Regimes for Financial Institutions. Some aspects of the FIRO, such as the cross-sectoral scope of the regime, are particularly strong. To implement the regime, the Hong Kong Monetary Authority (HKMA) 2 has established a Resolution Office (RO) with clear operational separation from banking supervision.
Author: International Monetary Publisher: International Monetary Fund ISBN: 1513573284 Category : Business & Economics Languages : en Pages : 45
Book Description
The institutional framework for Macroprudential Policies (MaPP) in the Hong Kong Special Administrative Region (the Hong Kong SAR) is well established. According to the Basic Law, the Government of the Hong Kong SAR shall on its own formulate monetary and financial policies. The Financial Secretary (FS) and the Secretary for Financial Services and the Treasury (SFST) are responsible for policies for maintaining the stability and integrity of the financial system of the Hong Kong SAR. The Hong Kong SAR has a sector-based regulatory structure and the responsibilities and tools for safeguarding financial stability are spread across the Financial Services and the Treasury Bureau (FSTB) and three regulators (namely, the Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC) and Insurance Authority (IA)). There are good and well-structured interagency coordination and consultation mechanisms, through the Council of Financial Regulators (CFR) and the Financial Stability Committee (FSC), chaired by the FS and the SFST, respectively. Broad coordination between the CFR and government agencies on taxation and housing supply-side policies has also worked well. MaPP and risk assessment are communicated to the public openly and frequently through speeches, press releases and regular publications, including the Half-Yearly Monetary and Financial Stability Report of the HKMA and the Half-yearly Review Report of the Global and Local Securities Markets of the SFC.
Author: International Monetary Publisher: International Monetary Fund ISBN: 1513573268 Category : Business & Economics Languages : en Pages : 37
Book Description
Hong Kong SAR has, over the recent years, become an equity trading hub catering to domestic and foreign investors, including increasingly to investors from Mainland China. Most trading is conducted on markets operated by recognized exchange companies, with limited domestic trading happening via automated trading services (ATS) providers in the form of alternative liquidity pools. The introduction of Stock Connect in 2014 enabled investors from Hong Kong (including domestic and foreign) to directly invest in the Shanghai and later Shenzhen markets and investors from the Mainland to directly access the Hong Kong market. Trading via Stock Connect has seen a steady rise over the last few years, increasing the linkages between Hong Kong SAR and the Mainland. Mainland companies currently account for over 60 per cent of market capitalization of the equities traded on the Stock Exchange of Hong Kong (SEHK).
Author: International Monetary Fund. Asia and Pacific Dept Publisher: International Monetary Fund ISBN: 1498343791 Category : Business & Economics Languages : en Pages : 45
Book Description
This 2014 Article IV Consultation highlights that Hong Kong Special Administrative Region’s (HKSAR) growth recovered to 2.9 percent in 2013 as resilient domestic demand helped offset the continued drag from net exports. As the global recovery takes hold, external demand is forecast to improve and lift growth to about 33⁄4 percent in 2014, although domestic demand remains solid. Inflation is expected to remain at about 4 percent, given the slow pass-through of housing costs. In line with the improved economic outlook, the 2014/15 budget includes a reduction in one-off measures of about 1.9 percent of GDP.
Author: Yan-leung Cheung
Author: Yan-leung Cheung
Author: Mrs.Vanessa Le Lesle
Author: David C. Donald
Author: International Monetary Fund
Author: International Monetary
Author: International Monetary
Author: International Monetary
Author: International Monetary
Author: E. P. Davis
Author: International Monetary Fund. Asia and Pacific Dept