Produced for the City of London, this report analyses the development of Hong Kong SAR, Tokyo and Singapore as leading financial centres in Asia. Considering the geopolitical basis of their growing competitiveness, it analyses their prospects for future expansion. It concludes that a lack of financial integration, sophistication and innovation within the region mean that none of the three centres offered a significant challenge to the City. However, their relative stability compared to Western markets in the recent economic downturn and recent regulatory failures in the UK may shift the balance. Therefore, it recommends increased partnership with Asian financial centres to facilitate both the global ambitions of Asian companies and the expansion of investment into growing Asian economies.
