Hong Kong retains third place in the latest global financial centres index, leading Asia-Pacific while ranking first worldwide in fintech and financial sector development, reports Asian Lite News Desk
Hong Kong has retained its position as the world’s third-largest financial centre and the leading financial hub in Asia-Pacific, according to the latest Global Financial Centres Index published on Wednesday.
The Global Financial Centres Index 40, produced by UK-based Z/Yen Group in partnership with the China Development Institute in Shenzhen, assessed 117 financial centres worldwide. Hong Kong recorded an overall rating of 756, behind New York and London.
The city retained its global lead in fintech offerings, while its ranking for financial sector development rose to first place worldwide. Hong Kong also ranked second for human capital, business environment and infrastructure.
The latest index highlighted Hong Kong’s performance across individual financial sectors. Its investment management sector moved into first place globally, while the city retained the top position for both insurance and finance.
New York remained at the top of the overall index, with London in second place. Singapore followed Hong Kong in fourth, while Shanghai moved up to fifth. Six Asia-Pacific centres featured among the global top 10, including Tokyo, Seoul and Shenzhen.
The average rating for financial centres across the Asia-Pacific region increased by 1.48 per cent from the previous edition, the largest regional increase recorded in the latest index.
The Hong Kong government said the city would continue strengthening its financial advantages and expanding its role as an offshore renminbi business hub.
It also highlighted plans to deepen financial links with mainland China, develop digital asset regulation and expand Hong Kong’s role in green and sustainable finance.
The GFCI has been published every March and September since 2007 and is widely used to assess the competitiveness of major international financial centres.
