Compare Australia’s and Hong Kong’s financial system – types of financial products & services, importance of banks vs stock exchange

Technology has enabled the development of a whole new range of sophisticated financial instruments that facilitate the movement of funds between surplus units and deficit units in different nation states. Discuss this issue with reference to Australia’s financial system and the financial system of Hong Kong’s.

The essay must consider
1) Types of financial products and services (300 words)
2) Relative importance of banks versus stock exchange as the source of industrial financing (450 words)