Financial centres are key to sustain economic growth, as they provide the infrastructure for investment and savings that drives entrepreneurial endeavours. Their prime purpose is to meet growing global funding needs, and these are expected to be particularly high for the next ten to twenty years. In a world confronted with complex issues - including technological disruption, climate change, ageing populations and social issues - access to market financing, accelerated market opening and the competitiveness of the financial centres have become major new challenges, for the satisfaction of economic and social needs. The collection of data on the different financial centres is therefore of utmost importance and should provide as objective an analysis as possible.
In this context, the Paris Financial Centre strives to develop a financial industry that serves society and contributes to a real and sustainable economy. To this aim, it intends to capitalise on its strong assets, which allowed its moving up ten places in the GFCI September edition.
Indeed, Paris is the only ‘global city’ in the EU, on a par with London, and the leading financial centre in the EU27. It also benefits from a complete ecosystem, including clients, talents and quality infrastructures, as well as from a regulation recognised at
international level and a quality dialogue between regulators and market participants. In addition, the Paris Financial Centre has benefitted, since the election of President Macron, from a strong involvement of the French public authorities to consolidate its position as a leading financial centre. And what has been announced has been implemented. The flexibility of labour law, taxation - in particular in relation to impatriates - the cost of labour and infrastructures - e.g. the international schooling offer - have all been significantly improved.
Today, the Paris Financial Centre is unfolding a new strategy to consolidate…
On March 11, Z/Yen and CDI jointly released the twenty-fifth edition of the Global Financial Centres Index (GFCI 25) during the Global Financial Forum in Dubai.
In GFCI 25, we researched 112 centres for this edition, with 102 centres in the main index and 10 in the associate list.
GFCI 25 was compiled using 133 quantitative measures provided by third parties including the World Bank, The Economist Intelligence Unit, the OECD, and the United Nations, with the combination of 29,065 financial centre assessments provided by respondents to the GFCI online questionnaire.
New York remains in the first place in the index, just seven points ahead of London. Hong Kong is only four points behind London in third and Singapore remains in fourth place.…
Z/Yen Partners and CDI jointly released the twenty-fourth Global Financial Centres Index (GFCI 24) in Guangzhou on September 12.
The GFCI researches 110 financial centres in this edition, with 100 in the main index and 10 in the waiting list. Performance across the index is mixed.
New York took first place in the index, just two points head of London, although both centres fell slightly in the ratings. Hong Kong is now only three points behind London. Shanghai overtook Tokyo to move into fifth place. Beijing, Zurich, and Frankfurt moved into the top ten centres, replacing Toronto, Boston, and San Francisco.
There are 9 financial centres across the Chinese mainland in the main index. Among them, Shanghai rose to the 6th place. Ranking 8th, Beijings moved into the top 10 for the first…
Z/Yen Partners and CDI published the twenty-third Global Financial Centres Index (GFCI 23) on the Launch Conference which was held in Qingdao on March 26.
The GFCI rates 96 financial centres in current issue. There is an overall increase in confidence for the leading centres with the top 25 centres all rising in the ratings.
London, New York, Hong Kong, Singapore and Tokyo remain the five leading global financial centres. The gap between London and New York in ratings closed to one point on a scale of 1,000. London’s rating rose less than the other four top centres. There is now less than 50 points between the top five centres.
The number of financial centres across the Chinese mainland in the main index has increased from 7 to 8 with the…
London and New York remain in first and second places. Interestingly, despite the ongoing Brexit negotiations, London only fell two points, the smallest decline in the top ten centres. Hong Kong has moved just ahead of Singapore into third – only two points ahead on a scale of 1,000. Tokyo remains in fifth.
There are seven cities across the Chinese mainland rated in the GFCI 22, namely Shanghai, Beijing, Shenzhen, Guangzhou, Qingdao, Dalian and the newcomer Chengdu. Among them, Shanghai got 711 points and ranks 6th, rising 7 places in the rankings. Beijing rose 6 places to the 10th position. Shenzhen got 689 points and ranks 20th, rising 2 places. Shanghai, Beijing ,and Shenzhen are in the top 20 financial centres. Guangzhou ranks 32nd and…
London, New York, Singapore, Hong Kong and Tokyo remain the five leading global financial centres. However, Brexit and the US election have had a significant impact. London and New York fell 13 and 14 points respectively. These are the largest declines (except for Calgary) in the top 50 financial centres. Singapore rose by eight points and is now only 20 points behind New York.
There are six cities of mainland China rated in the GFCI 21, including Shanghai, Beijing, Shenzhen, Guangzhou, Qingdao and Dalian. Shanghai got 715 points, ranks 13rd, rising 3 places in the rankings. Beijing rose significantly, rising ten places. Both Shanghai and Beijing are in the top 20 financial centres. Shenzhen got 701 points, ranks 22nd. Guangzhou has been…
Editor’s Note: CDI updated and published CFCI 8, which examines the latest development of financial hubs on the Chinese mainland.
CFCI 8, which was released on November 4, 2016, indicates that China's financial centers have a series of new features as follows:
First, the development of financial centers has become a driving force for economic growth. Far higher than the year-on-year growth rate of GDP, the total added value of the financial industry in 31 Chinese financial centers registered an increase rate of 14.6%, accounting for 8.71% of the local GDP on average.
Second, financial innovations in free trade zones have begun to take effect in financial centers. With the further development of cross-border RMB loans, cross-border RMB settlement, two-way capital pool of the foreign…
London, New York, Singapore and Hong Kong remain the four leading global financial centres. On a scale of 1,000 points, a lead of fewer than 20 points indicates relative parity. London remains just ahead of New York, leading New York by 1 point. New York (2nd) is now 42 points ahead of Singapore (3rd). Singapore is four points ahead of Hong Kong (4th).
Shanghai, Shenzhen and Beijing rank as the top three financial centres on the Chinese mainland. Shanghai (16th) is 9 points ahead of Shenzhen (22nd). Shenzhen now leads Beijing (26th) by 8 points.
The GFCI provides profiles, rating and rankings for 87 financial centres, drawing on two separate sources of data - instrumental factors (five broad ‘areas’ of competitiveness, namely business…