Hong Kong: Challenges and Prospects as an International Financial Center

DOI

10.2991/978-94-6463-642-0_19How to use a DOI?

Keywords

Gateway to China; Dual Economy; Fintech Innovation; Renminbi Internationalization; Regional Collaboration

Abstract

Hong Kong has long been recognized as a major international financial center, leveraging its strategic location, institutional advantages, and economic strengths. This study aims to analyze Hong Kong’s development as a financial hub, compare its competitiveness with other major centers, identify challenges, and propose future prospects. The study employs a comparative analysis of Hong Kong and other major international financial centers, such as New York, London, and Tokyo, to identify Hong Kong’s unique advantages and core competitiveness. It also examines the challenges faced by Hong Kong, including risks associated with its dual economic characteristics, short-term uncertainties, and the lack of market dominance by Chinese financial institutions. The analysis reveals that Hong Kong possesses distinct advantages and competitiveness in its financial market, despite facing various challenges. The study proposes policy recommendations, such as adjusting the dividend tax of Southbound Stock Connect, strengthening the development of the financial derivatives market, promoting the internationalization of the Renminbi, enhancing collaboration with mainland China and other regions, and fostering innovation in financial technology. Hong Kong’s position as an international financial center remains strong, but it must address the challenges and seize opportunities for sustainable development. By implementing appropriate policies and strategies, Hong Kong can maintain its competitive edge and continue to thrive as a global financial hub.

Copyright

© 2025 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  - Haotong Yang
AU  - Ziyao Zhang
PY  - 2025
DA  - 2025/01/24
TI  - Hong Kong: Challenges and Prospects as an International Financial Center
BT  - Proceedings of 2024 6th International Conference on Economic Management and Cultural Industry (ICEMCI 2024)
PB  - Atlantis Press
SP  - 178
EP  - 199
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-642-0_19
DO  - 10.2991/978-94-6463-642-0_19
ID  - Yang2025
ER  -