HONG KONG AS A REGIONAL FINANCIAL CENTRE
THE THREAT FROM SINGAPORE
Financial services are important to Hong Kong's economy (paragraph 1.3)
Hong Kong provides a narrower range of services than Singapore (1.4)
Hong Kong's regulatory framework has been enhanced in recent years, now
similar to Singapore's (1.5)
Hong Kong's main long-term opportunity lies as the services window for
China, but initially Southern China? (1.6)
Singapore's opportunity is to serve the expanding service needs of other parts of S.E. Asia, but doubtless other financial centres will also develop (1.7)
Adverse political developments in China and Hong Kong could dominate all
other influences on Hong Kong's future as a financial centre (1.8)
Leaving aside political issues, Hong Kong looks set to continue to thrive as a financial centre given its flexible economy, skilled workforce and the scale of
operations already built up there
Developing World Division
28 September 1992
Idhksum 1
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