When it comes to learning about economics, there is arguably no better place than Hong Kong - one of the world’s most significant financial centres.
The eighth biggest trading centre provided De Montfort University Leicester (DMU) students with a fascinating example of how Hong Kong maintains its position as the world’s eighth largest trading centres.The second-year Economics students at the launch of #DMUworks in Hong Kong
Students on the DMU’s Economics
in Hong Kong got a first-hand account of how Hong Kong’s financial markets work and the history of its development with a tour and the chance to meet experts at the Hong Kong Monetary Authority which acts as the de facto central bank.Parmjit Kaur
, DMU’s Head of Economics, said the trip had been designed to underpin the students’ studies in monetary policy. She said: “Visiting the Hong Kong Monetary Authority allowed the students to see how financial stability is maintained and the associated benefits for Hong Kong as a financial centre. Students have really engaged with the academic activities and the GREAT festival whilst having a fantastic cultural experience."
Hong Kong returned to Chinese rule in 1993 and the Government maintains a role in its economy – even credited with avoiding a crash by directly intervening during the 1997 Asian financial crisis.
They also had a tour of Hong Kong’s central business district, the finance centre and toured the Stock Exchange, as well as visiting the Bloomberg trading centre. DMU opened a Bloomberg centre last year which provides students with the chance to learn the skills used by traders and brokers in the finance industry. RELATED NEWS:
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Harpinder Singh, second year Economics, said: “The monetary authority was mostly about the history of the economy and how that has shaped the way that Hong Kong economy operates today. It was interesting to hear how it has developed and the way it maintains its trading links.”
“I didn’t realise that the tax rate and the income tax rate was so low here compared to other countries, and how that affects the economy,” said Deep Patel.
“We saw how the theories we learned apply to real life,” added Heenita Vaghela. “What makes Hong Kong interesting is its financial history, moving from British to Chinese rule and how that affected the economy.”
They said that being in Hong Kong was “an incredible experience” and loved being able to combine studies with cultural experiences such as visiting Kowloon, the markets and taking a boat across the harbour.
Posted on Tuesday 27th March 2018