Hong Kong ranked world's top financial centre for second year
Hong Kong has topped the World Economic Forum’s (WEF) Financial Development Index for the second consecutive year, topping the index ratings for the breadth, depth and efficiency of the world’s leading financial centres.
Hong Kong has topped the World Economic Forum’s (WEF) Financial Development Index for the second consecutive year.
Hong Kong SAR ranked first among 62 countries, with an overall score of 5.31 on a scale of 1 to 7. The score is measured on a vast amount of data intended to set standards for the world to follow.
Financial Secretary John Tsang Chun-wah on Thursday welcomed the WEF’s latest index.
“Hong Kong is highly competitive vis-à-vis most other financial systems in the world, especially in terms of contract enforcement, taxes and the infrastructure of the business environment, as well as the efficiency of banking financial services,” he said. “Our strengths in IPO activity, equity market development and commercial access are also well recognised by the WEF.”
Last year, Hong Kong leapfrogged the United States and Britain to become the first Asian financial centre to top the index that began in 2008. The city was fourth in the 2010 rankings.
