Global Financial Centres Index
The GFCI is a bi-annual report that provides ratings for financial centres worldwide, calculated by a ‘factor assessment model’ that combines instrumental factors with the responses of financial services professionals to an online questionnaire
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 addition of Tianjin from the associate centres list. Among them, Shanghai remains at the 6th place. Ranking 11th, Beijing fell slightly by one place, but the gap between Beijing and Boston, which ranks 10th, in ratings was only one point on a scale of 1,000. Shenzhen, Guangzhou, Qingdao and Chengdu rose 2, 4, 14, and 4 places respectively. The newcomer Tianjin ranks at the 63th place. Dalian continuously dropped to 96th.
Mark Yeandle, Director of Z/Yen Partners and the author of the GFCI, said "All the top centres have risen in the ratings. London remains on top despite Brexit concerns but rose less than any other centre in the top fifteen."
Zhang Jiansen, Research Director of Finance and Modern Industry Department of CDI, said "Competitiveness of the Chinese financial centres will be further unleashed with the gradual reform and opening-up of China’s financial market.
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…
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…
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…
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.…