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Chinese Geographical Science

, Volume 28, Issue 2, pp 217–230 | Cite as

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

  • Fenghua PanEmail author
  • Ziyun He
  • Thomas Sigler
  • Kirsten Martinus
  • Ben Derudder
Article

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

urban networks corporate networks financial service firms global financial centers China 

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Copyright information

© Science Press, Northeast Institute of Geography and Agricultural Ecology, CAS and Springer-Verlag GmbH Germany, part of Springer Nature 2018

Authors and Affiliations

  • Fenghua Pan
    • 1
    Email author
  • Ziyun He
    • 1
  • Thomas Sigler
    • 2
  • Kirsten Martinus
    • 3
  • Ben Derudder
    • 4
  1. 1.School of Geography, Faculty of Geographical ScienceBeijing Normal UniversityBeijingChina
  2. 2.School of Geography, Planning and Environmental ManagementUniversity of QueenslandQueenslandAustralia
  3. 3.School of Earth and EnvironmentUniversity of Western AustraliaCrawleyAustralia
  4. 4.Department of GeographyGhent UniversityGentBelgium

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