Reflection

Reference for the map:

darker color means more number of people engaged in the financial sector in this district, while lighter the color mean fewer number of people engaged in the sector in the district.

Source: Quarterly Survey of Employment and Vacancies, Census and Statistics Department, HKSAR, PRC.

It is showed in the graph (actual figures available in the table) as well as in the map that most people who are engaged in the financial sector are working in Central (144727 people), followed by Wanchai (70950 people), Eastern (43726 people)and Yau Tsim Mong (52558 people). These are the Central Business District of Hong Kong where headquarters of banks (e.g. HSBC and Bank Of China), insurance companies like MassMutual (Wanchai) and Pacific Insurance Co. Ltd. (Wanchai), real estate like Centaline Property Agency Ltd.(Central), and the stock market are located. For other areas like Shatin, Kowloon City, Sham Shiu Po and Kwun Tong, they are relatively higher when comparing with other districts. It is because these areas are residential areas where real estates will have their branches opened and ready to serve the consumers (There are a lot of real estates opened in Kowloon City and Yau Yuet Chuen). Although of smaller proportion when comparing with CBD, there are office buildings in Sham Shiu Po (17177 people) which involves financial services, thus pushing up the number of people engaged in this sector. The map gives a clear indications that the number of people engaged are decreasing as distance from the center of Hong Kong (i.e. Central in the darkest color) increases.

The main reason for such uneven distribution in number of people engaged in this sector in 18 districts is because of the history of Hong Kong. From the start Hong Kong Island and Tsim Sha Tsui were made to be the most modernized areas in Hong Kong with the best transportation network encouraging development in various industries especially trading, commercial and business and so on and headquarters will choose to settle at CBD too. In this way people like customers and businessmen can access to the headquarters to obtain services in the most convenient way.

However for the New Territories like Tai Po (3593 people), North (2924 people) and Yuen Long (4309 people), less people will engage in this sector because only small offices or branches which involved few employers will be available there. It is because New Territories are of more remote areas where people will need long traveling time to get there. Besides, although new towns are developed in New Territories, there are not many office buildings but made up of residential or industrial estates. Shopping malls can be found in the new towns but they would not provide many services on financing, insurance or real estates. As a result, there will be less people engaged in this sector in the New Territories districts. And for Sai Kung which has the lowest number of people engaged, since it is mostly made up of high-class residential buildings and no companies will set their feet in this district except real estate.                                                   top

Useful Websites:

1. http://stat.tdc.org.hk/monthly/emphk.htm
2. http://www.education18.com/item06/0603/0603main.htm
3. http://db.eiu.com
4. http://www.hkcsi.org.hk/
5. http://www.tdctrade.com/