HKHC Speaker's Series, Dr. Nora Yitong Qiu , University College London, United Kingdom

Description

HKHC Speaker's Series, Dr. Nora Yitong Qiu , University College London, United Kingdom

Payments Across Financial Sanctions: The Case of Shanghai Commercial Bank in Hong Kong 1949-65
Speaker: Prof. Catherine R. Schenk, University of Oxford, United Kingdom | Dr. Nora Yitong Qiu , University College London, United Kingdom
Date and Time: 5 Feb 2025, 3:30 – 5pm (UKT)
Venue: Lecture Room 8, Arts Complex, University of Bristol
Language: English

Hybrid event.

This talk explores the intricate dynamics of cross-border payments and financial integration in East and Southeast Asia from 1949 to 1965, focusing on the role of Shanghai Commercial Bank in Hong Kong. During this period, the geopolitical landscape was marked by significant events such as the Indonesian confrontation, the Malayan Emergencies, the Korean War, and the US occupation of Japan. These events, coupled with stringent financial sanctions against China, shaped the region's economic interactions and strategies.

Amidst these tensions, Hong Kong emerged as a crucial financial hub, navigating complex international sanctions and facilitating remittances and trade payments. The US-led dollar blockade against China compelled Chinese entities to adopt alternative currencies and devise innovative payment routes. Shanghai Commercial Bank in Hong Kong played a pivotal role in this financial adaptation, leveraging its strategic location and financial acumen to bridge economic exchanges despite sanctions.

Our study examines how the bank's operations and strategies contributed to regional economic stability and integration. We analyze archival records, financial data, and contemporaneous accounts to provide a comprehensive view of the bank's role in mitigating the impact of financial blockades. This historical inquiry offers valuable insights into the resilience and adaptability of financial institutions under geopolitical pressures, with implications for understanding contemporary financial sanctions and their effects on global economic systems.

Dr. Nora Yitong Qiu is a permanent research and teaching lecturer at UCL Department of History. She is a historian of modern East Asia. She investigates China’s modernity and economic disparity from three lenses: identity, finance, and legal institutions, using quantitative and qualitative methodology. Currently, she is working on four major projects: the material culture of China; legal pluralism; the origins of East Asia's payment systems and international trade; and environmental history of Jiangbei.

Period	5 Feb 2025
Held at	Department of History (Historical Studies)