How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms
| Autor: | Kirsten Martinus, Fenghua Pan, Ziyun He, Ben Derudder, Thomas Sigler |
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| Rok vydání: | 2018 |
| Předmět: |
Finance
Inter-dealer broker business.industry 05 social sciences Geography Planning and Development Geography of finance Financial intermediary 0211 other engineering and technologies 0507 social and economic geography 021107 urban & regional planning Financial system 02 engineering and technology Financial regulation Market data General Earth and Planetary Sciences China business 050703 geography Financial services Strategic financial management |
| Zdroj: | Chinese Geographical Science. 28:217-230 |
| ISSN: | 1993-064X 1002-0063 |
| Popis: | The increasing globalization of the Chinese economy has been enabled by both Chinese financial institutions operating globally as well as international firms operating within China. In geographical terms, this has been organized through a number of strategic cities serving as gateways for the exchange of financial functions, products and practices between China and the global economy. Drawing on location data of financial service firms in China listed on stock exchanges in Shenzhen, Shanghai and Hong Kong, this paper shows that Chinese financial firms are expanding globally and how Chinese financial centers are positioned and connected in the urban networks shaped by these financial service firms. It is found that Hong Kong, China, holds strategic positions in the integration of Chinese cities into global financial center networks, and that establishing a foothold in global financial centers such as New York and London has been a priority for Chinese financial institutions. The increasing capital flows directed by Chinese financial institutions suggests a shifting global financial geography, with numerous Chinese cities playing increasingly important roles within global financial center networks. |
| Databáze: | OpenAIRE |
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