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Title: Financial centre development in mainland China : a financial geography perspective
Author: Wang, Xiaoyang
Awarding Body: University of Oxford
Current Institution: University of Oxford
Date of Award: 2017
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Even in the conditions of the digital economy, financial centers remain crucial in the architecture of globalization, as international financial system has reached levels of complexity that requires the existence of a cross-border network of financial centers. After China's accession to the World Trade Organization, the country has gradually become a superpower in the world economy and is becoming one in the realm of global finance. In this context, Chinese cities are increasingly embedded into global systems of production, capital flows and accumulation. However, the ascent of China has not inspired a sufficient attention of financial geographers or other social scientists to the topic of China's financial centers. The objective of this thesis is to map and account for the recent development of financial centers in Mainland China, with specific focus on Shanghai, through the lens of financial geography. Given the centrality of money and finance to market economy as well as China's particular history and geography, this thesis provides an interrogation of the wider social, political, institutional, technological and cultural context for financial center development in China, ranging from the geographies of banking and securities industry in Mainland China to Shanghai's IFC dynamics and its strategic development initiatives. In doing so, this work tests and exemplifies the validity of a number of western theoretical approaches to financial and economic geography. The empirical study of geography of financial centers in Mainland, reveals the characteristics of China's transition economy and the crucial role of different levels of government in producing and shaping the evolution of its financial centers. It also highlights Beijing's critical role in the domestic hierarchical networks in both banking and the securities industry. In addition, the case of Shanghai shows specific characteristics of this international financial center in terms of its history, politics, culture and the developmental model. More specifically, this thesis presents the dynamics of Shanghai as an emerging international financial center formation with Chinese characteristics that goes beyond thinking centred on Anglo-American literature. In summary, the thesis as a whole may be considered as a bridge between western countries and China in terms of financial geographies focusing on the study of financial center evolution.
Supervisor: Wójcik, Dariusz Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: geography