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How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms

PAN Fenghua,  HE Ziyun,  Thomas SIGLER,  Kirsten MARTINUS,  Ben DERUDDER

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文章导航 > Chinese Geographical Science  > 2018 >  28(2): 217-230
PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. 中国地理科学, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
引用本文: PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. 中国地理科学, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
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PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. Chinese Geographical Science, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
Citation: PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. Chinese Geographical Science, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
shu

How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms

doi: 10.1007/s11769-017-0913-7
  • 1.

    School of Geography, Faculty of Geographical Science, Beijing Normal University, Beijing 100875, China;

  • 2.

    School of Geography, Planning and Environmental Management, University of Queensland, Queensland 4072, Australia;

  • 3.

    School of Earth and Environment, University of Western Australia, Crawley WA 6009, Australia;

  • 4.

    Department of Geography, Ghent University, Gent B9000, Belgium

基金项目: Under the auspices of the National Natural Science Foundation of China (No. 41201107), the Fundamental Research Funds for the Central Universities (No. 2015KJJCB30)
详细信息
    通讯作者:

    PAN Fenghua.E-mail:panfenghua@bnu.edu.cn

How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms

  • 1.

    School of Geography, Faculty of Geographical Science, Beijing Normal University, Beijing 100875, China;

  • 2.

    School of Geography, Planning and Environmental Management, University of Queensland, Queensland 4072, Australia;

  • 3.

    School of Earth and Environment, University of Western Australia, Crawley WA 6009, Australia;

  • 4.

    Department of Geography, Ghent University, Gent B9000, Belgium

Funds: Under the auspices of the National Natural Science Foundation of China (No. 41201107), the Fundamental Research Funds for the Central Universities (No. 2015KJJCB30)
More Information
    Corresponding author: PAN Fenghua.E-mail:panfenghua@bnu.edu.cn

  • 摘要: The increasing globalization of the Chinese economy has been enabled by both Chinese financial institutions operating globally as well as international firms operating within China. In geographical terms, this has been organized through a number of strategic cities serving as gateways for the exchange of financial functions, products and practices between China and the global economy. Drawing on location data of financial service firms in China listed on stock exchanges in Shenzhen, Shanghai and Hong Kong, this paper shows that Chinese financial firms are expanding globally and how Chinese financial centers are positioned and connected in the urban networks shaped by these financial service firms. It is found that Hong Kong, China, holds strategic positions in the integration of Chinese cities into global financial center networks, and that establishing a foothold in global financial centers such as New York and London has been a priority for Chinese financial institutions. The increasing capital flows directed by Chinese financial institutions suggests a shifting global financial geography, with numerous Chinese cities playing increasingly important roles within global financial center networks.
    Abstract: The increasing globalization of the Chinese economy has been enabled by both Chinese financial institutions operating globally as well as international firms operating within China. In geographical terms, this has been organized through a number of strategic cities serving as gateways for the exchange of financial functions, products and practices between China and the global economy. Drawing on location data of financial service firms in China listed on stock exchanges in Shenzhen, Shanghai and Hong Kong, this paper shows that Chinese financial firms are expanding globally and how Chinese financial centers are positioned and connected in the urban networks shaped by these financial service firms. It is found that Hong Kong, China, holds strategic positions in the integration of Chinese cities into global financial center networks, and that establishing a foothold in global financial centers such as New York and London has been a priority for Chinese financial institutions. The increasing capital flows directed by Chinese financial institutions suggests a shifting global financial geography, with numerous Chinese cities playing increasingly important roles within global financial center networks.
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  • 收稿日期:  2017-01-04
  • 修回日期:  2017-03-13
  • 刊出日期:  2018-04-27

How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms

doi: 10.1007/s11769-017-0913-7
  • 1. School of Geography, Faculty of Geographical Science, Beijing Normal University, Beijing 100875, China;
  • 2. School of Geography, Planning and Environmental Management, University of Queensland, Queensland 4072, Australia;
  • 3. School of Earth and Environment, University of Western Australia, Crawley WA 6009, Australia;
  • 4. Department of Geography, Ghent University, Gent B9000, Belgium
    • 基金项目:  Under the auspices of the National Natural Science Foundation of China (No. 41201107), the Fundamental Research Funds for the Central Universities (No. 2015KJJCB30)
    通讯作者: PAN Fenghua.E-mail:panfenghua@bnu.edu.cn
  • 收稿日期: 2017-01-04
  • 修回日期: 2017-03-13
  • 刊出日期: 2018-04-27

摘要: The increasing globalization of the Chinese economy has been enabled by both Chinese financial institutions operating globally as well as international firms operating within China. In geographical terms, this has been organized through a number of strategic cities serving as gateways for the exchange of financial functions, products and practices between China and the global economy. Drawing on location data of financial service firms in China listed on stock exchanges in Shenzhen, Shanghai and Hong Kong, this paper shows that Chinese financial firms are expanding globally and how Chinese financial centers are positioned and connected in the urban networks shaped by these financial service firms. It is found that Hong Kong, China, holds strategic positions in the integration of Chinese cities into global financial center networks, and that establishing a foothold in global financial centers such as New York and London has been a priority for Chinese financial institutions. The increasing capital flows directed by Chinese financial institutions suggests a shifting global financial geography, with numerous Chinese cities playing increasingly important roles within global financial center networks.

English Abstract

PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. 中国地理科学, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
引用本文: PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. 中国地理科学, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
shu
PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. Chinese Geographical Science, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
Citation: PAN Fenghua, HE Ziyun, Thomas SIGLER, Kirsten MARTINUS, Ben DERUDDER. How Chinese Financial Centers Integrate into Global Financial Center Networks: An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms[J]. Chinese Geographical Science, 2018, 28(2): 217-230. doi: 10.1007/s11769-017-0913-7
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