Hong Kong maintained its position as the world’s third-ranked financial hub, narrowing the gap with leading cities New York and London, according to the latest Global Financial Centres Index (GFCI) report on Thursday.
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The report, which is published twice a year, said Hong Kong’s overall rating rose 4 points, just 1 point below London and 2 points behind top-ranked New York.
“This ranking is not an endpoint, but a validation of our strategy” said Benjamin Hung, chairman of the Financial Services Development Council, the Hong Kong government’s advisory body.
Singapore rose 13 points to rank fourth in the index, 1 point below Hong Kong.
“There is little change in the ranking of the leading centres, with the top 10 centres remaining unchanged,” September’s GFCI report said. “However, the gap between the leading four centres has narrowed and only one rating point separates each of these centres.”
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Hong Kong was 2 points below London and 9 points below New York in the GFCI report published in March this year.
The latest ranking reflects Hong Kong’s efforts to burnish its credentials as a major international financial hub.