Singapore overtakes Hong Kong in new global financial centre rankings

Name: Singapore lifts indoor mask rule in most public spaces, eases quarantine for unvaccinated travellers
Uploaded: 2022-09-22T15:50:19.000Z
Duration: 1 min 10 s
Description: Singapore lifts indoor mask rule in most public spaces, eases quarantine for unvaccinated travellers

Singapore jumped to third place behind 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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Passengers arrive at the reopened Changi International Airport Terminal 4 in Singapore on September 13, following a closure for more than two years due to the Covid-19 coronavirus pandemic. Photo: AFP

Chad Bray

Published: 11:50pm, 22 Sep 2022Updated: 1:23am, 23 Sep 2022

Singapore has overtaken Hong Kong in the latest ranking of the world’s leading international financial centres as the latter city moves closer to ending its strict hotel quarantine rules for arrivals, one of several measures to control the coronavirus pandemic that have weighed on the local economy.

Hong Kong ranked fourth in the 32nd 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. New York was ranked as the top financial centre, followed by London and Singapore.

“The report pointed out that as compared to the assessment by financial industry practitioners from other major financial centres on the prospects of the cities in which they were based, practitioners based in Hong Kong were the most confident about the future competitiveness of Hong Kong as an international financial centre,” a Hong Kong government spokesperson said.

“We will continue to listen to views and be bold in taking forward reforms to consolidate and strengthen Hong Kong’s capital market and our role as an international financial centre.”

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Singapore lifts indoor mask rule in most public spaces, eases quarantine for unvaccinated travellers

Singapore jumped from sixth place to third in the latest ranking, whilst Hong Kong fell to fourth.