( Hong Kong, 26th Sept 2020 ) In the latest "Global Financial Center Index" report jointly released by the British Z/Yen Group and China (Shenzhen) Comprehensive Development Research Institute, Hong Kong’s overall ranking rose one place to fifth in the world, and the Asia-Pacific region Ranked 3rd. The top five financial centers this time are New York, London, Shanghai, Tokyo and Hong Kong.
According to comprehensive media reports, the report shows that Hong Kong scored 743 points, an increase of 6 points from the previous survey. Hong Kong ranks in the top five in terms of business environment, human capital, infrastructure, financial industry development level and reputation in the five competitive fields, among which business environment and human capital rank third. In the trade sub-index, Hong Kong ranks first. As for the financial technology ranking, it rose one place to sixth.
A spokesman for the Hong Kong government said on Friday that under the influence of the epidemic, Hong Kong's financial system remains resilient and robust, all links in the financial services industry are operating in an orderly manner, and the linked exchange rate system is operating well as always.
The spokesperson said that it will “intensify its efforts” to promote Hong Kong as a leading global financial center and a “two-way gateway” to China and the international market, and will seize opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and the “Belt and Road” to further strengthen Hong Kong’s role "Asset and wealth management center, offshore RMB business center, insurance and risk management center, and green and sustainable financial hub" status, while promoting the development of financial technology.
Singapore Ranks 6th
In terms of Chinese cities, Shanghai ranks the highest, ranking 3rd in the world, up one place from the previous survey; Beijing maintains its ranking at 7th, Shenzhen rises 2nd to 9th, and Qingdao soars 52nd to 47th; but Guangzhou dropped 2 places and ranked 21st. In addition, Tokyo and Singapore are ranked 4th and 6th in the world respectively. Among them, Singapore scores only one point lower than Hong Kong.
It is worth noting that in the absence of a clear international trade situation, the outbreak of the new crown pneumonia epidemic, and geopolitical risks, the average score of each financial center in the index has fallen by 41 points from the previous survey. However, the scores of the top 10 financial centers on the index have all risen against the trend, which may reflect that the epidemic has helped strengthen confidence in top financial centers.
The Global Financial Center Index was compiled by the British Z/Yen Group and the Shenzhen Comprehensive Development Research Institute Association of China. A total of 8,549 professionals were interviewed through online questionnaires, combined with 138 characteristic indicators, and about 54,500 financial center evaluations. The index is released every six months.
**Info & Image are taken online
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