Hong Kong people in Shanghai

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Hong Kong people in Shanghai form a rapidly growing population. Though as late as October 2003, there were only 3,432 Hong Kong residents working in Shanghai, according to Shanghai municipal government statistics; however, by December of the following year, that number roughly doubled to 6,680. 60.2% worked in the general services sector, 13.9% in manufacturing, 5% in real estate, 5.1% in finance and insurance, and 12.3% in other industries.[1][2] Most work in managerial positions; they were either hired in Hong Kong and sent to Shanghai afterwards by Hong Kong or foreign firms, or established their own companies in Shanghai. However, the growth in their population is limited by competition from increasingly well-educated local employees, who demand much lower salaries.[3]

With the rise in value of the renminbi, an increasing number of Hong Kong residents working in Shanghai who had previously been paid in foreign currencies such as United States dollars have begun to prefer receiving their salary in local currency instead.[4] In order to control capital inflow, Hong Kong residents living in Shanghai, in common with residents from Macau and Taiwan, are limited to purchasing one house or apartment per Home Return Permit-holder (the so-called "one permit, one house" scheme), but the Shanghai municipal government suggested it may relax this restriction to three houses or apartments per permit-holder.[5]

Associations representing the population include the Hong Kong Chamber of Commerce in Shanghai, established in 1996; as of 2007, it had roughly 700 members.[6][7] The 2006 television series A Beautiful New World (美丽新天地), starring Kristy Yang and Fan Bingbing, is among the better-known portrayals in popular culture.[8]

[edit] References

  1. ^ “More Hong Kong Residents Work in Shanghai”, China Business Alert (Hong Kong: Trade Development Council), December 2004, <http://www.tdctrade.com/alert/cba-e0412g-3.htm>. Retrieved on 6 September 2007 
  2. ^ “3000多香港人在上海就業 (Over 3000 Hong Kong people pursue work in Shanghai)”, People's Daily, 2003-09-12, <http://tw.people.com.cn/BIG5/14810/14860/2085346.html>. Retrieved on 6 September 2007 
  3. ^ “上海就業 ﹣ 民營企業有可為 (Job-seeking in Shanghai: Possibilities with privately-owned enterprises)”, Recruit! Magazine (Hong Kong) (no. 376), May 2003, <http://www01.recruitonline.com/central/full_article.jsp?lang=big5&category_issue=TUE&article_id=000132A0-C272-1EB9-90F001310A01B4F2>. Retrieved on 13 March 2008 
  4. ^ “香港人在上海拿薪水要人民币 (Hong Kong people in Shanghai want their salaries in renminbi)”, Shanghai Jinrong Bao, 2007-08-31, <http://finance.jrj.com.cn/news/2007-08-31/000002622319.html>. Retrieved on 6 September 2007 
  5. ^ “港澳臺人士上海購房一證一房 香港人或可買三套 (Hong Kong, Macau, and Taiwan people can buy one house each in Shanghai; Hong Kong people might be able to buy three houses)”, Sing Tao (Hong Kong), 2006-08-03, <http://www.singtaonet.com:82/chinafin/t20060803_292340.html>. Retrieved on 4 January 2008 
  6. ^ “港商會在滬舉行10周年慶典 (Hong Kong Chamber of Commerce in Shanghai holds 10th anniversary celebration)”, Ta Kung Pao (Hong Kong), 2007-01-15, <http://www.takungpao.com:82/news/07/01/15/ZM-678755.htm>. Retrieved on 4 January 2008 
  7. ^ Zhang, Junlan (2007-05-28), “沪港经贸合作 十年成就港人事业梦想 (Shanghai-Hong Kong economic cooperation: attaining Hong Kong people's career dreams in ten years)”, Sina Finance, <http://city.finance.sina.com.cn/city/2007-05-28/86849.html>. Retrieved on 4 January 2008 
  8. ^ Ren, Yan (2005-06-01), ““香港人在上海” 杨恭如范冰冰演起“情敌” ("Hong Kong people in Shanghai": Kristy Yang, Fan Bingbing play rivals in love)”, NetEase Entertainment News, <http://ent.163.com/ent/editor/tv/050601/050601_417862.html>. Retrieved on 4 January 2008 

[edit] Further reading

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