Hong Kong overtakes US and UK in Financial Development Index

Hong Kong took the top spot with a score of 5.16 on a scale of 1-7, says World Economic Forum.

A report by the Information Services Department said, “Hong Kong has topped the World Economic Forum’s Financial Development Index for the first time, up from fourth in 2010.”

According to the WEF Financial Development Index, Hong Kong has overtaken the US and the UK, while Singapore ranks fourth and Mainland China ranks 19th.

The report noted, “Financial Secretary John Tsang said the Government welcomes the World Economic Forum's recognition of Hong Kong’s rising competitiveness as an international financial centre. Hong Kong is ranked first in financial development and this is the first time ever for an Asian financial centre to be given the top spot.”

View the report here.