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Hong Kong’s Role in Bridging China and Global Finance: With Prof Li Chen
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EAI Director Prof Alfred Schipke speaks to Prof Li Chen, Associate Professor and Associate Director of the Centre for China Studies at the Chinese University of Hong Kong, in this episode of East Asia Pulse.
They discuss how geopolitical developments have impacted China’s financial sector development and the role that Hong Kong plays in connecting China's onshore financial market with global financial markets. They also weigh in on how Hong Kong stacks up against Singapore as a financial hub, and the potential for financial sector cooperation between Hong Kong and Singapore.
Summary:
-03:05 How geopolitical developments such as US-China decoupling shape China's own financial sector development and Hong Kong's position as a global financial centre
-08:59 Assessing competing perspectives on the direction of the future of China's financial sector: Further liberalization, state developmentalism, and national security
-10:25 China’s efforts to mitigate domestic financial risks and manage the interface between China's domestic financial system and the US-led global financial system
-16:47 Key instruments used to achieve China’s strategic goals in the economic and financial spheres, including RMB internationalization, management of cross-border capital flows, and financial connectivity schemes anchored in Hong Kong and the Greater Bay Area
-21:56 Challenges faced by connectivity schemes that aim to create modified linkages between mainland China and the international markets
-28:59 Hong Kong's role in piloting strategically important financial sector innovation as part of China's financial sector evolution, such as in digital currencies and green finance
-31:21 Hong Kong’s strengths as a financial hub, in comparison to Singapore
-33:53 Potential areas of financial sector cooperation between Hong Kong and Singapore, including in fintech, artificial intelligence and green finance
East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.
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