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shanghai or hong kong
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Hong Kong is more of a financial center today, while Shanghai is, after all the developments, still industrial relative to Hong Kong.
Having said that, the more recent growth in Shanghai is phenomenal, even after taking the difference in maturity between the twins into account. If we include their respective background regions (here, I roughly define the Greater Hong Kong as Hong Kong, Guangdong and Fujian, while the Greater Shanghai as Shanghai, Jiangsu and Zhejiang), the twins’ economic potentials are more or less neck-to-neck. The Greater Hong Kong economy is 3.7 trillion yuan in size and growing at an estimated 11.3 percent last year. In contrast, Greater Shanghai is 3.25 trillion yuan, nearly equivalent in size, and growing faster at an estimated 15.6 percent.
With regards to the levels of development, however, Greater Hong Kong is still ahead, especially in external trade and investment. Exports from Greater Hong Kong is around US$300 billion (even excluding about US$160 billion in Hong Kong-China trade), whereas Greater Shanghai’s exports to the outside world is about US$200 billion.
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