Domestically, Shanghai has been stated to have a greater geographical and therefore economical advantage than Hong Kong. During the late 1990s and early 2000s, the Shanghai municipal government had envisioned of transforming the city into China's main economic centre by as early as 2010. Consequently, Hong Kong's economic value to China is not what it once was. Hong Kong's share of China’s GDP dropped from 16% in 1997 to just 2.7% in 2018. Over the same time, Hong Kong’s contribution to China’s total exports fell from 24% to about 10%. And, whereas Hong Kong’s stock exchange had once raised more capital for Chinese companies than all of China’s other stock exchanges combined, that is no longer the case. The Shanghai Stock Exchange (SSE) overtook Hong Kong's for the first time in 2017.