晚清时期,沪港两埠虽权属性质有别,但同为中国沿海地区仅有的两个航运枢纽港,也是头等重要的贸易型城市,两埠之间的贸易联系十分密切。在上海口岸洋货进口贸易领域,香港发挥了日益重要的中转功能,成为上海口岸第三大或第二大洋货进口间接中转地或直接供货地。在上海口岸土货出口贸易领域,香港所发挥的中转功能则稍逊一筹,只是上海口岸第四大或第五大土货直接出口地或间接中转地。此外,经沪港两埠接力转运的小宗特产品贸易非常兴盛。沪港两埠贸易联系的增强,促使近代中国对外贸易格局从早期的“三角贸易形态”向以三角贸易为主体构成的“多边贸易形态”转变,进而有助于推动中国对外贸易实现收支滚动平衡。
During the late Qing period, Shanghai and Hong Kong were different ports according to their status, however, both of them were the only two pivot harbors along the China coast and the most important trade - pillared cities, their mutual trade relations were also very intimate. In the fields of foreign goods imports of Shanghai ,the entrepoffunctions played by Hong Kong became more and more clear and Hang Kong came to be the third or the second goods transit port or supply port of Shanghai according to volumes. In the fields of native goods exports of Shanghai, the entrepot functions played by Hong Kong looked less significant and Hong Kong was just the fourth or the fifth goods transit port or accept port of Shanghai according to volumes. Besides, the trades of low - volume special local products relay - transited by Shanghai and Hong Kong were very prosperous in this period. The trade relations between Shanghai and Hong Kong were strengthened gradually, which promoted China's foreign trade pattern transforming from the triangular trade pattern in the early times to multilateral trade pattern after 1880's,andcontributed to the dynamic balances of China's import and export trade.