Central (), also known as Central District, is the central business district of Hong Kong. It is located in the northeastern corner of the Central and Western District, on the north shore of Hong Kong Island, across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kowloon Peninsula. The area was the heart of Victoria City, although that name is rarely used anymore.
As the central business district of Hong Kong, it is the area where many multinational financial services corporations have their headquarters. Consulates of many countries are also located in this area, as is Government Hill, the site of the government headquarters until 2011. The area, with its proximity to Victoria Harbour, has served as the centre of trade and financial activities from the earliest days of the British colonial era in 1841, and continues to flourish and serve as the place of administration since the handover to China in 1997.
Naming
The area of Chung Wan (previously spelled "Choong Wan")Map of circa 1880 is a direct translation of "central" in English and was one of the districts () in Victoria City. The English name, Central became prevalent and the connected stations of Pedder and Chater (named after major streets in the area) were renamed as Central. On some older maps, Central and the area to its west are named Kwan Tai Lo () below Victoria Peak. It formed a channel, Chung Mun (), with Tsim Sha Tsui, on the sea route along the coast of southern China. The eastern part of Central District has been known as Admiralty
Despite the name Central being synonymous with the Central and Western District, and Central station, there are significant differences. Central and Western is a administrative district with strict boundaries, legislative representation, and elections for its legislators. Central station (more commonly referred to as Central) is a stop along the MTR Island Line, but is not the only station within the Central and Western District. Other stops include Hong Kong, Admiralty, Sheung Wan and more. The Central area is a loosely defined area within the Central and Western district defined by the presence of major banks, sky scrapers, and multi-modal transportation nodes.
Location Central is located on the north shore of Hong Kong Island, across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kowloon Peninsula. It is bordered in the west by Sheung Wan, with the border being along Aberdeen Street (also called Wing Kut Street). It is bordered in the east by Admiralty, an eastern extension of the Central and Western District. As such, Admiralty is sometimes considered a part of Central. Central is bordered in the south by Mid-Levels, an affluent residential area halfway up Victoria Peak. The boundary between Central and Mid-Levels is not clearly defined.
For district council elections purposes, the area, together with Admiralty, correspond roughly to the "Chung Wan" constituency.District Council electoral boundaries – Central and Western District The boundaries of such constituencies may be subject to modification.Press release: "Public consultation on proposed constituency boundaries for 2011 District Council Election", 3 December 2010
History
The British landed on Possession Point of Sheung Wan in 1841. They soon decided to build a city on the north coast of Hong Kong Island, and the present-day Central was chosen to house major military facilities and an administrative centre. Part of these military facilities include the Royal Navy port known as Naval Dockyard, and then later Admiralty. Another area to the north of Admiralty would be named Tamar for the HMS Tamar shore station (named for HMS Tamar, a Royal Navy troopship that arrived and was used as a shore base during the second opium war). The area soon attracted both Westerners and Chinese to trade and live in the area, and a Canton Bazaar (the precursor of the Central Market) was built between Cochrane Street and Graham Street in 1842. The area was soon zoned for Westerners only, and Chinese residents were restricted to Sheung Wan. It was zoned for "Western-style buildings," meaning buildings with space requirements and hygiene standards similar to European. The area was largely dominated by the presence of Victoria City. The popularity of this area would also boost the population of Hong Kong from 5,000 in 1841 to 24,000 in 1848. Government House and other Hong Kong Government buildings were completed during this period on Government Hill. Various barracks, naval bases and the residence of the Commander of British Forces in Hong Kong, Flagstaff House were built on the east end of the district. Between 1860 and 1880 the construction of City Hall, Theatre Royal and other financial structures made Central the heart of Hong Kong.
In 1904, the Praya Reclamation Scheme added of land to Central's waterfront. Many of the proposals came from Sir Paul Chater and James Johnstone Keswick, the founders of Hongkong Land, a modern property development group.Wordie, Jason. (2002) Streets: Exploring Hong Kong Island. Hong Kong: Hong Kong University Press. During the 1920s, Hong Kong was able to push far ahead economically, because of the cohesive collaboration between Central and all waterfront commerce.
The military structures survived until the 1980s. Only Flagstaff House remains as Museum of Tea Ware in Hong Kong Park. City Hall sat on the present premises of the HSBC Hong Kong headquarters. Hong Kong's first road, Queen's Road (subdivided into Queen's Road East, Central, and West), passes through the area and the business centre has continued to expand the Hong Kong shoreline into Victoria Harbour. The Hong Kong Garrison was home to the British Forces in Hong Kong, until the handover in 1997, since then it has been occupied by the People's Liberation Army of China.
Central has been the site of a number of major political protests. From October 2011 to September 2012, the Occupy Central movement against global economic inequality was based in front of the HSBC Main Building. Two years later, in September 2014, democratic activists initiated Occupy Central with Love and Peace, demanding universal suffrage for the election of the Chief Executive of Hong Kong, eventually contributing to the Umbrella Revolution.
Economy
There are many Grade-A commercial buildings in Central,Office For Rent at Central Treasure Land. Retrieved 3 Oct 2018 a prime commercial district in Hong Kong.
Bank of China (Hong Kong) has its head office in the Bank of China Tower."Contact Us ." Bank of China. Retrieved on 11 September 2011. "Registered Office BOC Hong Kong (Holdings) Limited 52/F Bank of China Tower 1 Garden Road Hong Kong" The Hongkong and Shanghai Banking Corporation, a subsidiary of HSBC, has its head office in the HSBC Main Building."Contact Us." HSBC. Retrieved on 12 September 2011. "The Hongkong and Shanghai Banking Corporation Ltd The Hongkong and Shanghai Banking Corporation – Hong Kong Address: GPO Box 64, Hong Kong, 1 Queen's Road Central, Hong Kong SAR, China", while Standard Chartered's head office is in Standard Chartered Bank Building. The Hong Kong or Asia offices of several major U.S. and Chinese banks are situated in Central, including JPMorgan Chase, Goldman Sachs, Bank of America, Citibank, State Street, CICC, China Development Bank, ICBC, Bank of Communication, Agricultural Bank of China and China Construction Bank.
The Hong Kong Monetary Authority, the IMF Resident Representative Office, and the BIS Representative Office are all based in the International Finance Centre. The Hong Kong Stock Exchange is located at Exchange Square. The Securities and Futures Commission moved its head office from Cheung Kong Center in Central to One Island East in Quarry Bay, reportedly because of high rents. The Hong Kong Association of Banks maintains its office in Central.
ANZ, Barclays, BNP Paribas, UBS AG, MUFG, SMBC, CIBC, Julius Baer, Macquarie, Nomura, Jefferies, DBS, Fubon Bank, Bank of East Asia, and Hang Seng Bank all maintain regional or country offices in Central."Investor Enquiries." Bank of East Asia. Retrieved on 11 September 2011. "Registered Office: 10 Des Voeux Road Central, Central, Hong Kong""Business Banking Centres." Hang Seng Bank. Retrieved on 11 September 2011. "Level 1 & 6, Hang Seng Headquarters, 83 Des Voeux Road, Central" (Map )
AIA Group's registered office is in the AIA Central, while Prudential plc maintains its principal place of business at the One IFC. The district is also home to numerous investment firms and funds, including China Investment Corporation, SAFE Investment Company, China Asset Management, Abu Dhabi Investment Authority, Canada Pension Plan Investment Board, Apollo Global Management, AQR, Blackstone,BlackRock, Carlyle, Citadel, Davidson Kempner, D. E. Shaw, EQT AB, ExodusPoint, E Fund Management, Franklin Templeton, General Atlantic, Invesco, Jane Street, KKR, L&G, Man Group, Millennium Management, Pictet, PIMCO, Point72, Susquehanna, TPG T. Rowe Price and Two Sigma. Credit rating agencies Fitch Ratings and Standard & Poor's also maintain offices in Central.
Jardine Matheson, Hongkong Land, CK Hutchison, CK Asset, CK Infrastructure, Hang Lung Properties and Henderson Land Development continue to have their headquarters in the area.The head offices of Chow Tai Fook Group and New World Development is in the in Central. – Traditional Chinese address: "香港中環皇后大道中18號新世界大廈30樓", Simplified Chinese address: "香港中环皇后大道中18号新世界大厦30楼". China National Offshore Oil Corporation's office is on the 65/F, Bank of China Tower.
Before 1999, Cathay Pacific had its head office in the Swire House in Central. "Head Office: Swire House, 9 Connaught Road, C, Hong Kong" In 1999, the airline relocated its head office to the Hong Kong International Airport.
Central is home to the Hong Kong offices of several major international law firms, including, A&O, Clifford Chance, CMS, Davis Polk, DLA Piper, Fangda Partners, Gibson Dunn, Herbert Smith Freehills, Jones Day, JSM, JunHe, King & Wood, Kirkland & Ellis, Latham & Watkins, Linklaters, Mayer Brown, Milbank, Morrison & Foerster, Skadden, Sidley Austin, Simpson Thacer, Slaughter and May, Sullivan & Cromwell, White & Case and Zhong Lun. It is also the location of the headquarters of Deacons, Hong Kong's largest local law firm. Des Voeux Chambers is based in Gloucester Tower. Both the AALCO Hong Kong Regional Arbitration Centre and the Hague Conference on Private International Law - Regional Office are located in the Former French Mission Building
Major consultancies and accounting firms, such as McKinsey & Company, Bain & Company, AlixPartners, Protiviti, PwC, and KPMG, also have their main offices in Central.
Central is also home to the Rolex Service Centre in Hong Kong, Richemont’s Asia-Pacific operations and the AP house of Audemars Piguet in the city. Christie's and Sotheby's have their main offices in the Henderson and Chater House, respectively. The Hongkong and Shanghai Hotels, the owner of the Peninsula Hotels, the Peak Tower and the Peak Tram, has its corporate office in St. George's Building while the first hotel of the Mandarin Oriental Hotel Group, the Mandarin is at 5 Connaught Road Central. Emirates Airline Store (Hong Kong) is in the Nexxus Building.
The Hong Kong office of Bloomberg L.P.’s is in Cheung Kong Centre.
Notable places, streets and buildings
Office buildings
8 Queen's Road Central 9 Queen's Road Central Agricultural Bank of China Tower AIA Central Alexandra House Bank of China Building, housing the China Club Bank of China Tower Bank of East Asia Building CCB Tower Central Building Central Tower, Hong Kong Chater House Cheung Kong Center Cheung Kong Center II China Building Citibank Plaza CITIC Tower Club Lusitano Building, housing the Club Lusitano Edinburgh Tower Entertainment Building Exchange Square, housing the Hong Kong Stock Exchange Gloucester Tower Hang Seng Bank Headquarters Building