,Hong Kong

HK places third in Global Financial Centres Index

The UK think tank Z/Yen and the China Development Institute authored the report.

The 30th Global Financial Centres Index (GFCI) Report released on 24 September showed Hong Kong rising to third place globally, one place from the March 2021 issue.

A government spokesman said, "This is an unequivocal affirmation of Hong Kong's status and strengths as a leading global financial centre. Hong Kong has remained among the top in various areas of competitiveness, including human capital, infrastructure, financial sector development, and reputational and general."

Persistent uncertainties stemming from the COVID-19 pandemic and heightened geopolitical tensions continued to affect the overall ratings of major financial centres. The spokesman added a robust and effective regulatory regime, a well-established institutional framework for systemic risk monitoring, and the linked exchange rate system underpinned by large foreign exchange reserves made Hong Kong's financial markets function in an orderly manner.

Furthermore, the spokesman said that safety and stability have been restored in Hong Kong over the past year, which made it conducive to attracting more global investors, as well as reinforced Hong Kong's position as an international financial centre.

The GFCI Report has been released in March and September every year since 2007. In GFCI 30, 116 financial centres were assessed, and Hong Kong came third with an overall rating of 716.

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