Global financial centers competitions in the past 100 years: factors of global financial centers' success and China financial centers emerging

Abstract

本文從全球角度和歷史經驗論述金融中心發展,尤其是國際金融中心發展的條件、路徑和制約因素,并綜合'金融地理'、'金融法學'及'時區理論'的觀點論述國際金融中心發展及增長。本文并對香港及內地金融中心(上海、北京、深圳)在后金融危機的時代及中國的偉大崛起中的發展機遇,及在全球金融網絡的位置及角色和前景作出展望,并對上海建設國際金融中心作出建議。 Based on the examination of their developmental conditions，pathways and determining factors, this study reviews and summarizes the historical experiences of development of global financial centres. From the perspectives of “Geography of finance”,“Law-finance”theory and the “Time-zone” theory, this paper synthesized the current theorization on the growth and development of International Financial Centres (IFC). Amid the current global financial crisis and the rise of Chinese economy in the world economy, this study foresee the prospect of robust growth of Chinese financial centres, including Hong Kong, Shanghai, Beijing, and Shenzhen, and their possible roles and positions in the global financial centres network in the post-crisis era.