Shifting Capital

The Rise of Financial Centres in Greater China

This report highlights the rise of China’s financial power on the world stage, focusing on the emergence of the four financial centres in the Greater China region (Hong Kong, Shanghai, Shenzhen, and Taipei). It analyzes the convergence of their financial systems and shows how the development of these cities is closely linked with China’s domestic financial reform as well as the RMB internationalization strategy.

Chatham House Reports are topical, policy-relevant pulications on today's key global challenges. They draw on the institute's unique cross-cutting research expertise to offer new insights, fresh approaches, and specific recommendations. For further information on these and additional reports in the series, go to