HK vs Shanghai: Latest Financial Center Competition

Hong Kong and Shanghai are the two most famous financial centers in China. However, they have also been competing all the time as top tier city in China as well. For this reason, do you really want to know more about their keen competition as major Chinese financial center and also their latest development? You may see some useful answers and reference information from this particular article source.

HK vs Shanghai: Financial Competition

Although Hong Kong is only a small city located at the south corner of China, financial center in Hong Kong serves not only southern China but also many other Asia areas. Shanghai, on the other hand, is located at eastern north coast of mainland China. Financial center in Shanghai thus serves mainly the east-northern regions of mainland China.

Financial center competition between Hong Kong and Shanghai is indeed a very long story and will probably never come to an end. Therefore, we would like to list out some recent development updates of these two Chinese cities in this article and share our little thoughts about their latest competition stories with all you guys.

HK vs Shanghai: Latest Financial Center Development

Here are some recent developments of these two Chinese cities in financial aspects. Since real estate markets of both cites are also suffered from problem of overheating, we hereby include their responses to such housing market development problem as this issue is serious enough to affect their financial center stability.

(1) In 2010, Hong Kong made use of a new Special Stamp Duty (SSD) policy to cool down its property market which has been overheated. For more details as well as impacts of this special policy, please be welcomed to read: End of HK's High-Land-Price Policy.

(2) At the end-2010, Shanghai Stock Exchange announced its new development plan to build the city as an international financial center. For full details about this aggressive financial center development plan, please read: Shanghai Development Plan by 2020.

(3) At the end-2010, Hong Kong discontinued its Full Deposit Protection Scheme which was previously introduced during the 2008 global financial crisis. It should show that H.K. has already been fully recovered after this crisis and has then regained its economic growth momentum. This whole story can be found at: Weakening of HKD.

(4) In 2011, Shanghai came up with a new kind of property tax for home buyers in mainland China to cool down its overheated housing market. For its pros and cons, please visit: Shanghai Property Tax and its Side Effects.

(5) Since there is still a long list for all latest development updates, we find it is not easy to show them all here. For additional information about financial center development of Hong Kong and Shanghai, please do not forget to learn from other useful source(s) about the updated status of these two Chinese cites. Latest status can be found at: Shanghai vs Hong Kong Latest Status.

Short Conclusion about HK and Shanghai Competition ...:

Hong Kong and Shanghai have really been competing all the time as top financial center in China. However, we do strongly believe that these two Chinese cites have their own particular strengths and can also be complementary to each other within the country.

In our opinion, these two cites do not need to worry too much about their own interests and can even help each other for better regional cooperation. In particular, stock markets in both Hong Kong and Shanghai are mutually benefited and developed very quickly in recent years. For better understanding about their stock market development, please refer to: Hong Kong and Mainland China Stock Markets where the specific China resources center blog is located.