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The role of innovation-led profits in the development of an international financial centre

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  • Bryane Michael

    (Asian Institute of International Financial Law, Faculty of Law University of Hong Kong
    University of Oxford)

Abstract

Qianhai—an innovation park in Shenzhen—has the possibility of boosting innovation in Hong Kong, Shenzhen and in the wider region. This paper reviews the existing evidence about which policies have promoted profitable innovation in the Qianhai region (Hong Kong and Shenzhen) in the past. We also point to the importance of profitable innovation—rather than just innovation for its own sake. Profits attract and keep firms in an international financial centre. Yet, until we know exactly how much profitability these innovative firms require and how to promote such profitability, the advice given in the literature to Qianhai’s and other policymakers will remain woefully inadequate.

Suggested Citation

  • Bryane Michael, 2024. "The role of innovation-led profits in the development of an international financial centre," Journal of Innovation and Entrepreneurship, Springer, vol. 13(1), pages 1-22, December.
    • Handle: RePEc:spr:joiaen:v:13:y:2024:i:1:d:10.1186_s13731-023-00338-4
    DOI: 10.1186/s13731-023-00338-4
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    More about this item

    Keywords

    Qianhai; Cross-border economic zones; Innovation; Special economic zones;
    All these keywords.

    JEL classification:

    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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