The re-emergence of Hong Kong as an international financial centre 1960-78: contested internationalisation

Schenk, C. (2011) The re-emergence of Hong Kong as an international financial centre 1960-78: contested internationalisation. In: Quennouelle-Corre, L. and Cassis, Y. (eds.) Financial Centres and International Capital Flows in the Nineteenth and Twentieth Centuries. Oxford University Press: Oxford, pp. 199-253. ISBN 9780199603503

Full text not currently available from Enlighten.


Hong Kong is usually seen as a laissez-faire paradise for international business. This chapter draws on archival sources to show that, contrary to this image, the internationalisation of the banking sector was highly contested both by large local banks and by government regulators. This chapter also identifies the strengths and weaknesses of the IFC in Hong Kong in the period before China’s Open Door Policy was launched in 1978, with particular focus on the regulatory environment and the range of activity. Measuring Hong Kong’s international financial flows (including remittances to the mainland) has been hampered by the lack of official statistics and this chapter presents new data gleaned from archive sources.

Item Type:Book Sections
Keywords:Hong Kong, International Financial Centre, International Banking
Glasgow Author(s) Enlighten ID:Schenk, Professor Catherine
Authors: Schenk, C.
Subjects:D History General and Old World > DS Asia
H Social Sciences > HC Economic History and Conditions
College/School:College of Social Sciences > School of Social and Political Sciences > Economic and Social History
Publisher:Oxford University Press

University Staff: Request a correction | Enlighten Editors: Update this record

Project CodeAward NoProject NamePrincipal InvestigatorFunder's NameFunder RefLead Dept
524121The development of international financial regulation and supervision 1961-1982Catherine SchenkEconomic & Social Research Council (ESRC)ES/H026029/1Economic and Social History