综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

USEUROPEAFRICAASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Op-Ed Contributors

Looking for union from 'accord of men'

By Hong Liang | China Daily | Updated: 2013-08-03 07:34

For quite sometime, Shanghai has been talking about becoming an international financial center on par with New York and London. The proposed free trade zone in the city is widely seen to have the potential of bringing its dream a big step closer to reality.

After the green light was given for the project last month, many economists and commentators have enthused about the many possibilities and predicted resounding success even though details of the plan have yet to be announced. Their comments in the media and on the Internet suggest that modern infrastructure, friendly rules and tax incentives are all that needs to create an international financial center. That's overly presumptuous.

Both Hong Kong and Singapore, which are well-established international financial centers in the region, recognized long time ago that an international financial center was built by institutions and their people more than anything else. The Singapore government invited Bank of America to establish a US dollar offshore market from which other financial services were spawned. In Hong Kong, the influx of foreign banks, including numerous merchant, or investment, banks in the 1980s to do cross-border lending and other financial businesses, underscored the city's success.

These foreign institutions brought with them not only the expertise they had accumulated in other markets, but, more importantly, global clients, including many multinational companies and large enterprises in various regional economies. Without such an international client network, it would have been impossible for a regional syndicated loan market to take hold in Hong Kong.

Of course, the large domestic institutions, notably HSBC in Hong Kong, were active participants in the building of the financial center from the start. But it didn't take long for the other smaller domestic banks to jump on the bandwagon as fund providers at first and co-managers at a later stage. In the process, they too have acquired the financial strength and expertise to compete with the big boys for a piece of the business.

 

Previous 1 2 Next

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
辽源市| 岑巩县| 西乡县| 大余县| 郓城县| 克什克腾旗| 金湖县| 阳朔县| 米泉市| 九龙城区| 新建县| 原阳县| 西平县| 义马市| 周宁县| 太和县| 辛集市| 潼南县| 合山市| 龙岩市| 深泽县| 嘉鱼县| 太仆寺旗| 三江| 益阳市| 乌兰浩特市| 泰州市| 平果县| 哈巴河县| 民县| 洛隆县| 宜城市| 黄大仙区| 荥阳市| 固安县| 康马县| 普安县| 茌平县| 东光县| 淅川县| 呼和浩特市|