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| Srl | Item |
| 1 |
ID:
111878
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| Publication |
2012.
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| Summary/Abstract |
The path towards a closer integration in Advanced Producer Services (APS) industries between Hong Kong and Shenzhen has been difficult despite favorable locational factors. Based on the authors' long-term and extensive working experience in the APS sectors in the Pearl River Delta, combined with in-depth interviews with senior officers of companies who are APS providers in Hong Kong in 2009, this paper will examine the factors, both tangible and intangible as in institutional and non-institutional, regulatory and non-regulatory, as well as legal, governmental, social and cultural, which affect and resist APS integration between Hong Kong and Shenzhen. The findings suggest that the integration of APS between Hong Kong and Shenzhen has been greatly impeded by unfavourable institutional factors that have overwhelmed locational advantages. There are substantial inhibitions against free competition in the China marketplace including non-regulatory and intangible inhibitions, embodied by local protectionism, heavy reliance on guanxi, rampant insider games and nepotism, excessive bureaucracy, an inadequate legal system, pervasive rent seeking and so forth that block integration between the two cities. The paper will also examine the Qianhai Free Trade Service Zone, the ambitious initiative made by the Shenzhen government to promote APS cooperation between the two areas.
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| 2 |
ID:
060886
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| 3 |
ID:
124163
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2013.
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| Summary/Abstract |
Over the past several years, China has consistently maintained economic growth and at the same time emerged as a new global giant in the international arena, despite the distractions caused by the global financial crisis, which was triggered by the US Sub-prime Mortgage Crisis of 2007 and the recent bond crisis that emerged in the European Union in 2011. Concurrent with China's growing interaction with the global economy and robust growth of its domestic economy, competition for the status of national and even international financial centers in the region has become fierce. This study focuses on a 'local' examination of internal conditions for the emergence and growth of Chinese financial centers over the next 10-20 years. Cities contending for the top slot in the roster of Chinese cities, like Beijing, Shanghai and Shenzhen, are striving to become international financial centers and are trying to compete with Hong Kong. This study investigates the development potentials, future prospects and division of functions between different financial centers within China regarding Hong Kong, Beijing and Shanghai, with special reference to the role of information and locations of MNCs' regional headquarters.
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