Hong Kong takes third spot in global financial centres index

Hong Kong’s overall rating rose by 11 points.

Hong Kong remained in third place globally and held the top spot in the Asia-Pacific in the Global Financial Centres Index (GFCI), with its overall rating rising by 11 points to 760.

New York came first globally, followed by London in second place.

According to the GFCI, Hong Kong also ranked fourth globally for fintech offerings, second place for "human capital," "infrastructure," and "financial sector development" and third in the "business environment" and "reputational and general."

"The ratings reflect that our continued efforts to enhance the diversity and the competitiveness of Hong Kong as an international financial centre have fully received international recognition," Financial Secretary Paul Chan said.

These initiatives include enhancing the timeframe for the listing application process and listing requirements for specialist technology companies.

To promote fintech, Hong Kong has enhanced infrastructure, built a more active fintech ecosystem, nurtured fintech talent, and strengthened co-operation with the Mainland and overseas.

In addition, the Hong Kong Monetary Authority (HKMA) has launched a stablecoin issuer sandbox, allowing institutions planning to issue stablecoins in Hong Kong to test their operational plans.