Hong Kong has maintained third place in the Global Financial Centres Index, while occupying the top spot in Asia.
The ranking, published on Thursday, placed the city just behind New York and London – and ahead of Singapore, its regional rival.
A government spokesperson welcomed the ranking in a Thursday press release.
“The report fully recognises Hong Kong’s leading status and strengths as an international financial centre. Hong Kong’s rankings in the areas of ‘human capital’, ‘infrastructure’, and ‘financial sector development’ rose to second in the world, while rankings in ‘business environment’ and ‘reputational and general’ rose to third globally.”
The index ranks the competitiveness of financial centres based on 5,000 questionnaire respondents and over 100 indices from global organisations, such as the Economist Intelligence Unit, the World Bank, and the Organisation for Economic Co-operation and Development (OECD).
The index is published twice yearly by London’s Z/Yen Partners in collaboration with the China Development Institute. Based in Shenzhen, the institute is chaired by former Chinese finance chief Xiang Huaicheng.
The report examines 119 financial centres and considers factors such as the business environment, human capital, infrastructure quality, reputation and financial sector development.
