How Chinese financial centers integrate into global financial center networks : an empirical study based on overseas expansion of Chinese financial service firms
- Author
- Fenghua Pan, Ziyun He, Thomas Sigler, Kirsten Martinus and Ben Derudder (UGent)
- Organization
- 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.
- Keywords
- WORLD CITY NETWORK, HONG-KONG, PRODUCER SERVICES, FOREIGN BANKING, CITIES, INVESTMENT, LOCATION, INTERNATIONALIZATION, SHANGHAI, MARKETS, urban networks, corporate networks, financial service firms, global, financial centers, China
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-8591353
- MLA
- Pan, Fenghua, et al. “How Chinese Financial Centers Integrate into Global Financial Center Networks : An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms.” CHINESE GEOGRAPHICAL SCIENCE, vol. 28, no. 2, 2018, pp. 217–30, doi:10.1007/s11769-017-0913-7.
- APA
- Pan, F., He, Z., Sigler, T., Martinus, K., & Derudder, B. (2018). How Chinese financial centers integrate into global financial center networks : an empirical study based on overseas expansion of Chinese financial service firms. CHINESE GEOGRAPHICAL SCIENCE, 28(2), 217–230. https://doi.org/10.1007/s11769-017-0913-7
- Chicago author-date
- Pan, Fenghua, Ziyun He, Thomas Sigler, Kirsten Martinus, and Ben Derudder. 2018. “How Chinese Financial Centers Integrate into Global Financial Center Networks : An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms.” CHINESE GEOGRAPHICAL SCIENCE 28 (2): 217–30. https://doi.org/10.1007/s11769-017-0913-7.
- Chicago author-date (all authors)
- Pan, Fenghua, Ziyun He, Thomas Sigler, Kirsten Martinus, and Ben Derudder. 2018. “How Chinese Financial Centers Integrate into Global Financial Center Networks : An Empirical Study Based on Overseas Expansion of Chinese Financial Service Firms.” CHINESE GEOGRAPHICAL SCIENCE 28 (2): 217–230. doi:10.1007/s11769-017-0913-7.
- Vancouver
- 1.Pan F, He Z, Sigler T, Martinus K, Derudder B. How Chinese financial centers integrate into global financial center networks : an empirical study based on overseas expansion of Chinese financial service firms. CHINESE GEOGRAPHICAL SCIENCE. 2018;28(2):217–30.
- IEEE
- [1]F. Pan, Z. He, T. Sigler, K. Martinus, and B. Derudder, “How Chinese financial centers integrate into global financial center networks : an empirical study based on overseas expansion of Chinese financial service firms,” CHINESE GEOGRAPHICAL SCIENCE, vol. 28, no. 2, pp. 217–230, 2018.
@article{8591353,
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.}},
author = {{Pan, Fenghua and He, Ziyun and Sigler, Thomas and Martinus, Kirsten and Derudder, Ben}},
issn = {{1002-0063}},
journal = {{CHINESE GEOGRAPHICAL SCIENCE}},
keywords = {{WORLD CITY NETWORK,HONG-KONG,PRODUCER SERVICES,FOREIGN BANKING,CITIES,INVESTMENT,LOCATION,INTERNATIONALIZATION,SHANGHAI,MARKETS,urban networks,corporate networks,financial service firms,global,financial centers,China}},
language = {{eng}},
number = {{2}},
pages = {{217--230}},
title = {{How Chinese financial centers integrate into global financial center networks : an empirical study based on overseas expansion of Chinese financial service firms}},
url = {{http://doi.org/10.1007/s11769-017-0913-7}},
volume = {{28}},
year = {{2018}},
}
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