On the “Past and Present” of Hong Kong’s Finance

Abstract

Finance is vital to a country, and Hong Kong, as a special part of the large economy of China, has unique advantages and development history. And Hong Kong’s growth from a small fishing village to a financial centre has its inevitable factors: historical, geographical and policy advantages. After nearly a century of rapid development, Hong Kong has achieved many proud accomplishments in the following fields: economy, medicine, education, etc. In the process, the cooperation between Hong Kong and the mainland has become increasingly close, and the two sides of the Strait have become excellent “partners”. In recent years, due to the COVID-19 epidemic and the rise of China as a big economy, Hong Kong is facing an unavoidable dilemma. In view of this, the authors suggest that Hong Kong can develop financial technology, enhance financial security,  implement green finance, and promote corporate innovation. At the same time, Hong Kong should also strengthen the relationship with the mainland. Generally speaking, under the current circumstances, Hong Kong will continue to exist as an important financial center of China, but Hong Kong should also actively face the challenges of the times and explore new developments directions in the future.