Photo by Brayden Law via Pexels

HK loses crown as top financial centre in APAC

It lost to Singapore by one point.

Hong Kong is no longer the top financial centre in the Asia Pacific.

The city dropped one rank in the Global Financial Centres Index, placing fourth globally and second in Asia-Pacific.

The city got an overall rating of 725, losing to Singapore by one point.

Markets in the index are rated based on five areas of competitiveness: business environment, human capital, infrastructure, financial sector development, and reputation.

Hong Kong saw improved rankings in four of the five areas, namely business environment (8th), infrastructure (6th), financial sector development (7th), and reputation (9th). For human capital, Hong Kong placed 8th.

The government said Hong Kong’s improvement in these areas “fully reflects the city’s strengths and advantages as a leading global financial centre.”

The report also revealed that financial industry practitioners based in Hong Kong were the most confident about the city’s future competitiveness as an international financial centre.
Given the intense international competition, the government has adopted a more vigorous and proactive development approach to consolidate Hong Kong’s strengths and continuously enhance the city’s competitiveness.

The government will continue to make good use of Hong Kong’s institutional advantages under “one country, two systems” to strengthen the city’s capital market and its role as an international financial centre, adding that it was confident the financial system could withstand external shocks and remain resilient.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

HK approves 15 building plans in March 
Four were approved on Hong Kong Island, two in Kowloon, and nine in the New Territories.
75% of HK consumers shop on social media: report
Features such as payment methods, personalisation, and payment security are also crucial for attracting customers.