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The thirty-eighth edition of the Global Financial Centres Index (GFCI 38) was published on 25 September 2025. GFCI 38 provides evaluations of future competitiveness and rankings for 120 financial centres around the world. The GFCI serves as a valuable reference for policy and investment decision-makers.
China Development Institute and Z/Yen Partners in London collaborate in producing the GFCI. The GFCI is updated and published every March and September, and receives considerable attention from the global financial community.
135 financial centres were researched for GFCI 38 of which 120 are in the main index. The GFCI is compiled using 140 instrumental factors. These quantitative measures are provided by third parties including the World Bank, the OECD, and the United Nations.
The instrumental factors are combined with financial centre assessments provided by respondents to the GFCI online questionnaire. GFCI 38 uses 28,549 assessments from 4,877 respondents.
New York leads the index, with London second. Hong Kong retains third position ahead of Singapore. San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, and Seoul are unchanged in fifth to tenth positions.
We are able to assess 116 centres for their FinTech offering. Hong Kong takes top position followed by Shenzhen, with New York falling to third place. Singapore has overtaken London to take fourth position. Milan, Stockholm, Rome, Calgary, and Bahrain improved by over 20 places in the FinTech rankings. Five centres fell more than 15 places.
Editor’s note: We would be extremely grateful for your opinions on any financial centres in which you have done business. Your opinions will be used in the compilation of GFCI 39 due to be published in March 2026. Please take a few moments to help us. This questionnaire is unlikely to take more than five minutes to complete. In return for your help, we will send you a copy of our findings. Please be assured that answers will be kept confidential. Many thanks for your help.
Start the questionnaire: https://globalfinancialcentres.net/survey/
