A Financial Centre for Two EmpiresA Financial Centre for Two Empires


Author: David C. Donald

Publisher: Cambridge University Press

ISBN: 9781139952187



View: 631

This is a case study of legal transplant, economic development, cultural adaptation and political integration. Hong Kong's journey from British entrepôt to China's international financial centre is one of the most interesting legal stories of our time. But Hong Kong's future is even more interesting: will this region with British-origin institutions survive full integration into China and become its permanent international financial centre? Does Hong Kong have the legal infrastructure to compete effectively with Shanghai and Singapore, and even New York and London? A Financial Centre for Two Empires presents Hong Kong's story, examines its corporate economy and securities market, assesses its corporate, securities and tax laws for doctrinal soundness and appropriate remedies, and evaluates the quality of their enforcement empirically. It closes with a view of Hong Kong from the perspective of developments in Beijing and Shanghai, including an examination of the important political dimension.

Corporate Governance in AsiaCorporate Governance in Asia

David Donald, 'Hong Kong's Economic Structure: The Corporate Control Context,' in A Financial Centre for Two Empires: Hong Kong's Corporate, Securities and Tax Laws in Its Transition from Britain to China (Cambridge: Cambridge ...

Author: Bruce Aronson

Publisher: Cambridge University Press

ISBN: 9781108420778


Page: 424

View: 231

Provides a comparative overview of corporate governance frameworks and practices in major Asian countries.

Finance Rule of Law and Development in AsiaFinance Rule of Law and Development in Asia

Weitseng Chen is Assistant Professor and Deputy Director of the Center for Asian Legal Studies (CALS) at the National ... His publications include A Financial Centre for Two Empires: Hong Kong's Corporate, Securities and Tax Laws in its ...

Author: Jiaxing Hu

Publisher: BRILL

ISBN: 9789004315815


Page: 548

View: 510

This volume offers a comparative study of Hong Kong, Singapore and Mainland China's financial models conducted by leading experts in the field and advances a sophisticated and common understanding on the development of financial centres in Asia based on the rule of law.

Re imagining Offshore FinanceRe imagining Offshore Finance

Market-dominant Small Jurisdictions in a Globalizing Financial World Christopher M. Bruner ... A Financial Centre for Two Empires: Hong Kong's Corporate, Securities and Tax Laws in Its Transition from Britain to China 171, 171–73 (2014) ...

Author: Christopher M. Bruner

Publisher: Oxford University Press

ISBN: 9780190466879


Page: 245

View: 228

Small jurisdictions have become significant players in cross-border corporate and financial services. Their nature, legal status, and market roles, however, remain under-theorized. Lacking a sufficiently nuanced framework to describe their functions in cross-border finance - and the peculiar strengths of those achieving global dominance in the marketplace - it remains impossible to evaluate their impacts in a comprehensive manner. This book advances a new conceptual framework to refine the analysis and direct it toward more productive inquiries. Bruner canvasses extant theoretical frameworks used to describe and evaluate the roles of small jurisdictions in cross-border finance. He then proposes a new concept that better captures the characteristics, competitive strategies, and market roles of those achieving global dominance in the marketplace - the "market-dominant small jurisdiction" (MDSJ). Bruner identifies the central features giving rise to such jurisdictions' competitive strengths - some reflect historical, cultural, and geographic circumstances, while others reflect development strategies pursued in light of those circumstances. Through this lens, he evaluates a range of small jurisdictions that have achieved global dominance in specialized areas of cross-border finance, including Bermuda, Dubai, Singapore, Hong Kong, Switzerland, and Delaware. Bruner further tests the MDSJ concept's explanatory power through a broader comparative analysis, and he concludes that the MDSJs' significance will likely continue to grow - as will the need for a more effective means of theorizing their roles in cross-border finance and the global dynamics generated by their ascendance.

Financial Advice and Investor ProtectionFinancial Advice and Investor Protection

See David C Donald, A Financial Centre for Two Empires (CUP 2014) ch 1.D.3. See Hong Kong Monetary Authority (HKMA), 'Report of the Hong Kong Monetary Authority on Issues Concerning the Distribution of Structured Products Connected to ...

Author: Booysen, Sandra

Publisher: Edward Elgar Publishing

ISBN: 9781800884625


Page: 384

View: 735

This comprehensive book offers a rigorous analysis of the legal debates, approaches and practice-related issues surrounding financial advice and investor protection. Despite widespread recognition of the importance of financial inclusion more broadly construed, recent financial crises have highlighted deficits in retail investor protection – this book informs the development of robust yet adaptable frameworks to protect investors, including effective enforcement and dispute resolution.

Institutions and Economic Growth in AsiaInstitutions and Economic Growth in Asia

David Donald (2014), A Financial Centre for Two Empires: Hong Kong's Corporate, Securities and Tax Laws in Its Transition from Britain to China, Cambridge: CUP. World Trade Organisation (2010), op. cit. The Opinions on Boosting ...

Author: Flora Huang

Publisher: Routledge

ISBN: 9781315516110


Page: 328

View: 773

This book explores the role of institutions in economic growth, looking in particular at specific Asian countries and at particular cities within those countries. It considers a wide range of factors besides institutions, including the law, cultural factors and overall government arrangements. The differences between the countries studied are highlighted, and the impact of these differences assessed: the impact of English common law on arrangements in Hong Kong, Singapore and Malaysia; sharia law in Malaysia; the differing lengths of time of colonial rule; the extent to which Chinese family businesses control an economy. Also studied are the degree to which the law is effectively applied, and a range of other social, economic and cultural factors. The book’s conclusions as to which factors have the greatest impact will be of considerable interest to economists of Asia and those interested in economic growth more widely.


David C. Donald, A Financial Centre for Two Empires: Hong Kong's Corporate, Securities and Tax Laws in its Transition from Britain to China (Cambridge: Cambridge University Press, 2014), p. 2. 80. On why renminbi internationalization ...

Author: Helen Thompson

Publisher: Oxford University Press

ISBN: 9780198864981


Page: 384

View: 177

Disorder: Hard Times in the 21st Century explains the historical origins of the political shocks of the past decade: why politics has been so difficult, why energy and debt are such a large part of these difficulties, and how two rather different kinds of democratic crises exist in Europe and the United States.

Comparative Takeover RegulationComparative Takeover Regulation

See David C. Donald, A Financial Centre for Two Empires: Hong KongVs Corporate, Securities and Tax Laws in its Transition from Britain to China (International Corporate Law and Financial Market Regulation) (Cambridge: Cambridge ...

Author: Umakanth Varottil

Publisher: Cambridge University Press

ISBN: 9781107195271


Page: 552

View: 451

Comparative Takeover Regulation compares the laws relating to takeovers in leading Asian economies and relates them to broader global developments. It is ideal for educational institutions that teach corporate law, corporate governance, and mergers and acquisitions, as well as for law firms, corporate counsel and other practitioners.

The Cambridge Handbook of Shareholder Engagement and VotingThe Cambridge Handbook of Shareholder Engagement and Voting

25 David C. Donald, A Financial Centre for Two Empires: Hong Kong's Corporate, Securities and Tax Laws in Its Transition from Britain to China (International Corporate Law and Financial Market Regulation, Cambridge University Press ...

Author: Harpreet Kaur

Publisher: Cambridge University Press

ISBN: 9781108913072


Page: 1013

View: 980

All over the world, companies play an important role in the economy. Different types of stakeholders hold the reins in these companies. An important class are the shareholders that finance the activities of these companies. In return, stakeholders have a say on how these companies should be organized and structure their activities. This is primarily done through voting and engaging. These mechanisms of voting and engaging allow the shareholders to decide significant aspects of the company structure, from who governs it to how much directors are paid. However, how shareholders vote and engage and how far their rights stretch are organized differently in different countries. This pioneering book provides insights into what rights these shareholders have and how the shareholders of companies in nineteen different jurisdictions participate in corporate life through voting and engaging. Comparative and international in scope, it pays particular attention to how jurisdictions align and differ around the world.

The Chinese and Indian Corporate EconomiesThe Chinese and Indian Corporate Economies

CCBC specializes in finance for the construction industry, BOC in foreign exchange and outward investment, ... David C. Donald et al., A Financial Centre for Two Empires: Hong Kong's Corporate Securities and Tax Laws in Its Transition ...

Author: Raj Brown

Publisher: Taylor & Francis

ISBN: 9781317398325


Page: 472

View: 932

This is a compelling analysis of the corporate economies of China and India, which are having a huge impact not just on the international economy, but also in the geopolitical and international strategy sphere as a result of an accelerated globalisation by these two countries, which is unleashing powerful economic challenges to corporate structures, economic institutions and law worldwide. The big question is how after centuries of underdevelopment China and now India are emerging powerfully and pulling ahead of Western European economies. Analysing the role of the state and the adroit use of law, and their impact on the corporate evolution of both China and India, provides greater clarity and insight into why China has evolved as a manufacturing nation utilizing cheap abundant labour while India has not exploited such advantages but instead focused on IT and higher value industries, even abroad as Tata has demonstrated in the motor industry in Europe. Again while Chinese corporations have expanded abroad as an arm of the state into Asia, Middle East, Africa, Europe, Latin America and parts of the southern states of the USA, India has pushed principally into Europe through the efforts of powerful minority capitalists of Parsi and Gujerati background, overcoming technological gaps and differences through acquisitions and absorptions of existing corporations in particular industries, especially in steel, automobiles and textiles. In China, state owned corporations have been dominant. In India, though state owned enterprises have been powerful since 1951, it has been private capitalists with an established stronghold since the colonial period and even under the Socialist period from 1951-1991 who have been the more productive main actors both in India and abroad.