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Hong Kong holds on to third place in global financial centre rankings, as local markets defy Covid-19 restrictions
- Hong Kong ranked third after New York and London in the latest Global Financial Centres Index
- Semi-annual survey by the China Development Institute and the London think tank Z/Yen Partners evaluates 119 financial hubs globally
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Hong Kong held onto its third-place ranking globally, after New York and London, in the latest study of the world’s leading international financial centres even as a series of restrictive measures to combat the spread of the coronavirus weighed on the city’s economy.
The city ranked third in the 31st edition of the semi-annual Global Financial Centres Index, produced by the China Development Institute in Shenzhen and the London think tank Z/Yen Partners.
“The report reaffirms Hong Kong’s status and strengths as a leading global financial centre,” a Hong Kong government spokesman said.
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The official noted that Hong Kong’s financial markets have continued to function “in an orderly manner with no abnormal signs of capital flow observed” despite persistent uncertainties from the Covid-19 pandemic.
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Shanghai was fourth in the study and Singapore sixth. Beijing was eighth, with Tokyo and Shenzhen rounding out the top 10. Shenzhen jumped six places to surpass Paris in the top 10.
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