This paper examines Hong Kong’s evolution as an international financial center (IFC) in the face of emerging Asian financial hubs, outlining strategic responses to maintain its status amidst challenges such as the US-China trade war and the COVID-19 pandemic. Through comparative analysis, the study highlights Hong Kong's unique advantages under the "one country, two systems" policy and identifies key areas for future development, including enhancing its offshore RMB market, fostering regional cooperation, and integrating financial technology. The findings suggest a multi-faceted approach to reinforcing Hong Kong's position as a leading financial hub, emphasizing adaptation and innovation in response to global financial dynamics.
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Xie et al. (2024) studied this question.
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