national hearing Hong Kong and Shanghai struggle for supremacy in China’s commercial intermediation. But is there real competition between the two cities, and in which areas? Logistics? Finance? The establishment of regional headquarters for multinational firms? It is true that the apparent similarity between the geographical position, the past prestige and the particular functions of those two urban centres calls for comparison. However, a more detailed examination shows that there is space for several international platforms on China’s coastline. Rather, the two hinterland hinterland, delta de la Rivière des Perles and delta du Fleuve Bleu, are in strong competition. The two cities then seem to be in a different register, serve the internal market in the case of Shanghai, remain a central hub for overall trade in Hong Kong.