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Factors that make Hong Kong one of the World Financial Centre

In: Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024)

Author

Listed:
  • Teng Han Lousia

    (Heilongjiang International University, International Business School, International Business)

  • Au Yui Ching Rosette

    (King Edward’s School Witely)

Abstract

A world financial center refers to a place that gathers a large number of financial and related derivative service industries. It needs to have the most active securities trading market, the most complete financial market, the most convenient international settlement system, and most importantly, to have a radiating impact on the surrounding and global areas, in order to be called a world financial center. As one of the three major financial centers in the world, Hong Kong deserves to explore and reflect on its causes. In this article, we use the method of conditional ensemble analogy to explore the causes of Hong Kong’s world financial status from the perspective of economic development. The results of the study revealed that Hong Kong’s status as an international financial center comes from historical accumulation, a relaxed business environment, and excellent institutions.

Suggested Citation

  • Teng Han Lousia & Au Yui Ching Rosette, 2024. "Factors that make Hong Kong one of the World Financial Centre," Advances in Economics, Business and Management Research, in: Khaled Elbagory & Zefu Wu & Hamdan Amer Ali Al-Jaifi & Shafie Mohamed Zabri (ed.), Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024), pages 653-666, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-408-2_72
    DOI: 10.2991/978-94-6463-408-2_72
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