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GFCI 29 Headlines
New York again headed the rankings in the Global Financial Centres Index 29, launched today by Z/Yen Group in partnership with the China Development Institute (CDI) in London and Hong Kong.
London fell to only one point ahead of third place Shanghai.
Hong Kong moved up a place to fourth, one point behind Shanghai, with Singapore in fifth position. Tokyo dropped three places from fourth to seventh.
Frankfurt replaced San Francisco in the top 10 in this edition, gaining seven rank places, perhaps benefiting from the exit of the UK from the European Union.
GFCI 29 shows a relatively high level of stability in the top half of the index, with few centres changing 10 or more places in the rankings. In the lower half of the index, there was more volatility, perhaps reflecting some uncertainty about the resilience of emerging and smaller centres.
Hong Kong rises to 4th place among world s financial centers newzealandstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newzealandstar.com Daily Mail and Mail on Sunday newspapers.
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17 Mar, 2021 Author Rebecca Isjwara
Asian cities continue to dominate a list of most competitive financial centers in the world and the confidence in the global financial systems is stabilizing as vaccines raise hopes that the COVID-19 pandemic will likely abate this year, a survey found.
Six of the top 10 cities in the biannual Global Financial Centres Index compiled by the Z/Yen Group in cooperation with the China Development Institute are Asian hubs.
New York, London and Shanghai maintained their top three ranks in the 29th iteration of the index. They were followed by Hong Kong, Singapore, Beijing, Tokyo, and Shenzhen among other Asian cities. Hong Kong, Singapore and Beijing each climbed one rank to supersede Tokyo in the order, which slipped to the seventh position from fourth, according to the survey that features 114 major global financial centers.
New York stays top in finance as London loses ground, index shows
03/17/2021 8:09
LONDON (Reuters) - New York kept the top spot in the latest Global Financial Centres Index (GFCI), with London clinging on to second place in the face of competition from Shanghai and other Asian centres.
The index, compiled by the Z/Yen Group, a London-based think tank, and the China Development Institute, looks at 143 yardsticks provided by outside parties such as the World Bank, The Economist Intelligence Unit, the OECD and United Nations.
Based on 65,507 assessments of financial centres provided by 10,774 respondents to the GFCI online questionnaire, New York held on to the top stop with 764 points, while London dropped 23 points to 743, just one point ahead of Shanghai.