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Which city is better?

By Natalie Yau, James Chen, Wingki Kwok & Jess Kong

Alfred Zhu

Shanghai exchange student

Alfred Zhu, studying electronic engineering at City University of Hong Kong, is an exchange student from Shanghai Jiao Tong University.

“The English standard of Hong Kong university students is not as good as I had thought.

“Their efficiency is low. They spend 3 or even more hours on an assignment that can be finished in an hour.

“Hong Kong is famous for efficiency. But I do not find that quality among university students,” said Alfred.

But he agrees that Hong Kong has freedom of speech, free trade and a sound financial system.

In comparison, he said the stock market in Shanghai is far from mature.

It is subject to “policy changes” but not “economic changes”.

“However, Shanghai has a large market that can offer new opportunities,” he said.

He is confident on the future of the two cities.

“I give a score of 4 to Shanghai and 3.5 to Hong Kong out of 5.”

Chow Yu Shien

Business student at CUHK

Chow Yu Shien, a Year 3 business and administration student at the Chinese University, said she is not confident about Hong Kong’s future.

“Shanghai’s emphasis on IT shows its potential challenge to Hong Kong,” Chow said.

She said it was not exaggerating to say Shanghai would replace Hong Kong’s position in Asia.

“Hong Kong is mature in its social development. However, Shanghai’s economic progress will be faster, as it is still in the budding stage.”

She said many local university students have a poor learning attitude.

Skipping classes is a fad. Shanghai students are more diligent and respectful towards their professors.

Hardy Lui, Koren Wang

Students at PolyU

Hardy Lui of Hong Kong Polytechnic University said that the English standard of Shanghai students is better. And they are more diligent.

“It is very difficult for them to get into university,” said Hardy.

Koren Wang, also of Hong Kong Poly, said she would choose Shanghai to develop her career.

She visited Shanghai 10 years ago, and she found the prices were very low.

“I’ll do some small business there,” Wang said.

Prof. Steven Cheung

Department of Economics & Finance at CityU

Prof. Steven Cheung teaches in the Department of Economics and Finance at City University of Hong Kong.

He was a consultant and an assistant professor at both Fudan University and Shanghai Jiao Tong University in 1997.

He said the two cities are under keen competition.

“Though Hong Kong outdoes Shanghai, the challenge from Shanghai is obvious.

“Hong Kong students are indifferent to the economy. On the contrary, Shanghai students are more interested in economic issues.

“They have a sense of responsibility and a better learning attitude,” he said.

Although he agrees that Hong Kong’s legal system has high credibility compared with that of China, he said Hong Kong’s credibility has dropped in the past few years.

Its high labour costs and office rents are barriers to foreign investors.

“On the contrary, Shanghai has very low labour costs. Its infrastructure development is extremely fast, so it no longer lags behind Hong Kong,” Prof. Cheung said.

Prof. Cheung said that Shanghai would follow the path of Hong Kong in reaching the position of a financial centre in Asia.

“It is not a zero-sum game. Two financial centres are possible,” he said.

Ms Rosina Lai

Assistant Human Resources Manager in China division at AIA

Ms Rosina Lai is an assistant human resources manager in the China division of Amercian International Assurance Company.

She and her colleagues have worked with graduates from Shanghai and Hong Kong.

Ms Lai said: “Though students of the two places have similar abilities, Shanghai graduates are more curious, hardworking and willing to learn.

“They are interested about capitalised companies and the American style of management.”

She explained that Shanghai graduates have less exposure to the environment and new things.

In comparison, she said that Hong Kong graduates have higher level in oral English.

She explained that this is because Hong Kong students have more chances to practise oral English than Shanghai students do.

Mr. Li Sau

Hang Chairperson of The Hong Kong Economic and Trade Association

The Hong Kong Economic and Trade Association aims at promoting cooperation among companies in the two cities.

Chairperson Li said that Hong Kong benefits from being located at the mouth of the Pearl River Delta.

Entrepreneurs use the river system as a stepping stone to the mainland market. He said tax policy is complicated in Shanghai.

And import taxes on commodities are levied in Shanghai, but not in Hong Kong.

Freedom to travel is another advantage in Hong Kong.

“In Hong Kong, it’s easy to get a visa. “However, in the mainland, it may take almost a year,” he said.

This greatly hinders businessmen from doing business in China.

“You know, they value time most,” he said.

“Talents in Hong Kong are familiar with the business system in China. They understand the legislative system and the needs of foreign investors,” he said.

“As Hong Kong was a British colony, the general English level is higher. In Shanghai, only elites are competent in English.”

Hong Kong allows free trade, which enhances foreign confidence.

But China practises a planned economy, he said.

“Compared with Shanghai, Hong Kong will continue to enjoy her superiority internationally. However, Hong Kong has to use Shanghai to further develop her business in China.

“On the other hand, Shanghai has to rely on Hong Kong to facilitate communication with foreigners,” he said.

Mr. Alex Ng

Hong Kong & Shanghai businessman

Mr. Alex Ng, marketing manager of Soya Co., travels frequently between Hong Kong and Shanghai.

“The great potential market in Shanghai really attracts us.”

It is common for foreign investors to set up Asian bases in Hong Kong first before penetrating the mainland. Shanghai is a stepping stone for Soya to further explore the market in China, said Mr. Ng.

“The living standards, the price levels, and economic environment in Shanghai are very similar to Hong Kong’s.”

Mr. Ng said there are “too many competitors” in Shanghai.

“And after China’s entry into the World Trading Organisation, more inland cities will open to foreign investment and trade.

“Doing business will be more difficult in China, even though the openness of trade is still not satisfactory,” he said.

To Mr. Ng, Hong Kong university students have to face forseeable challenges from talents in mainland China.

“Today’s Hong Kong university graduates fail to achieve much academically. They are passive learners. If no improvements are made, they will be easily outranked.

“Mainland talents are the mirror image of Hong Kong talents in the 1980s. They are hardworking and sensitive to world issues.

“Shanghai has more specialised elites than Hong Kong.

“The most attractive point is their lower salaries and higher quality compared with Hong Kong workers,” said Mr. Ng.

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