Management Practice

National Competitive Advantage: Perceptions of Professionals as Maintaining Hong Kong as an outside(a) Financial Centre Abstract Recently, there is an argument on whether Hong Kong will be replaced by instill as a major(ip) world-wide fiscal oculus (IFC) for mainland China by 2020. The contention may affect Hong Kongs side in Asia. Hong Kong professionals and government should spry this issue in order to retain its leading post as an IFC. We have drawn on the IFC literature to manifest fourteen predictive factors that are important for achieving and maintaining a agonistic IFC. We then examine Hong Kongs performance in these factors in the first part. In the sulfur part we compare Hong Kong and Shanghai for the role of IFC. It was found that Shanghai could not overtake Hong Kong as an IFC for China by 2020. MAINTAIN HONG KONG INTENATIONAL FINANCIAL CENTRE Introduction Hong Kong Special ecesis Region (Hong Kong) is well known as an international financial focalize. Over the decades, the rapid growth of China plays a major role in the global economy. According to the State Councils announcement China is set to replace Japan as the second largest economy in the world in the near future.

It is as well the worlds largest manufacturing base and the biggest commodity importer. Besides, China keeps 40 percent of the worlds foreign exchange reserves and is also the worlds largest holder of US exchequer bills. (2009, ¶ 2) China wants to grow and liberalise its financial market and translate Shanghai into a major international financial centre by 2020. On 25 March 2009, Xinhua News account Chinas State Council has endorsed a statement to agitate Shanghai to be developed into an international financial centre by 2020 in order to keep up with Chinas economic influences and China currency, renminbis (RMB) international status. (2009, ¶ 1) However, Hong Kongs unique and close relationship with the Mainland has... If you want to subscribe a full essay, order it on our website: Ordercustompaper.com

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