In the recently released Global Financial Centres Index, Hong Kong has reaffirmed its position as Asia's premier financial hub and climbed to third place globally. The city continues to outpace regional competitor Singapore while narrowing the gap with global leader New York. This achievement underscores Hong Kong’s resilience and adaptability in an increasingly competitive financial landscape. The report highlights improvements across various sectors, reflecting strong support from mainland China and strategic reforms in stock markets and asset management.

According to the latest semi-annual study conducted by the Z/Yen Group in London and the China Development Institute in Shenzhen, Hong Kong's overall score surged by 11 points. Meanwhile, Singapore advanced only three points to remain fourth globally. London retained its second-place ranking with a 12-point improvement. Notably, Seoul made significant strides, entering the top ten for the first time. The evaluation process involved analyzing 140 factors alongside feedback from nearly 5,000 respondents worldwide.

The government of Hong Kong expressed satisfaction with these results, attributing them to robust backing from mainland China, successful stock market reforms, and enhanced connectivity between Hong Kong and the mainland. Additionally, advancements in asset and wealth management have played pivotal roles in bolstering the city's international standing.

Hong Kong regained its top regional position in the previous rankings issued in September, reversing a brief decline when it was overtaken by Singapore in September 2022. The new report also reveals that Hong Kong has achieved second place globally in human capital, infrastructure, and financial sector development. Moreover, it ranks third in both business environment and reputation. In specific industries such as investment management, insurance, and finance, Hong Kong leads all other centers, while banking places it third globally.

This edition of the Global Financial Centres Index demonstrates Hong Kong's enduring appeal as a financial powerhouse. By leveraging its unique advantages, including ties with mainland China and ongoing modernization efforts, the city remains well-positioned to compete on the world stage. These developments highlight not just local successes but also the broader dynamism of the global financial ecosystem.