HK ranked 3rd in global financial centre survey

Hong Kong has retained its position as the world's number three financial hub, closely trailing London and New York, according to the latest edition of the Global Financial Centres Index (GFCI). The twice-yearly report — which assesses 117 financial centres across the world — showed that the city scored 756 points on the index, just one point behind London's 757, and five points lower than New York's 761. Complied by Z/Yen Group and the China Development Institution, the index also showed that the SAR continued to be the top financial centre in Asia for the fourth year in a row. A government spokesperson noted that the report reaffirmed the city's leading position and strengths as a global financial centre, with high rankings in five major areas. "Among them, Hong Kong's ranking in 'financial sector development' rose to first place worldwide," the spokesperson said. "While remaining second in rank for the area of 'human capital', Hong Kong's ranking in 'business environment' and 'infrastructure' also rose to second place. "In addition, Hong Kong's ranking in the 'investment management' sector rose to first place worldwide." The city also continued to top the global ranking in terms of "fintech offerings" and "insurance", the statement...