Chinese family business, stock market and the Haiwankong financial network.

This article attempts to examine the development of family businesses and stock markets in three greater China locations: Shanghai, Taiwan and Hong Kong. Of particular interest are the effects of public listing on the transformation of family businesses and the growth of economies through opening markets to private enterprises. First, a short history of the Shanghai, Taiwan and Hong Kong stock markets will be given. Then, their similarities and differences will be analysed. As the three markets have different characteristics, specializations and comparative advantages, a collaborative financial network of these three places – Haiwankong – is proposed that may further enhance their competitiveness on the global economic stage with special reference to the development of Europe from a highly divisive collection of states to a European Union under a single currency. [ABSTRACT FROM PUBLISHER]