Shanghai took the third place while Hong Kong moved up one place to fourth in the 29th edition of Global Financial Centers Index published by the British think tank Z/Yen Group and China Development Institute in Shenzhen on March 17.
Beijing and Shenzhen maintained their positions on the top 10 list, with rankings moving up one place, respectively.
The GFCI has published biannual reports since 2007, charting the progress of leading financial centers globally. The GFCI 29 evaluated future competitiveness and rankings for 114 financial centers around the world.
The GFCI is compiled using 143 instrumental factors, with these quantitative measures provided by third parties including the World Bank, the Economist Intelligence Unit, the OECD and the United Nations, according to a public report released by Z/Yen Group.
The two institutions also rated 105 centers on their fintech offering, with New York continuing to lead the fintech ranking, followed by Shanghai, Beijing, Shenzhen, and London.
Let's take a look at the latest ranking of world's top 10 financial centers.
No 10 Zurich
Birds fly over the Limmat River during sunny winter weather in Zurich, Switzerland, Feb 5, 2021. [Photo/Agencies]
No 9 Frankfurt
The financial district in Frankfurt, Germany, March 18, 2019. [Photo/Agencies]
No 8 Shenzhen
A view of Shenzhen, Guangdong province, on June 25, 2020. [Photo/IC]
No 7 Tokyo
Lighted candles for Christmas and the Tokyo metropolitan government office building are seen in Tokyo, Japan, Dec 25, 2020. [Photo/IC]
No 6 Beijing
Night view of the CBD area in Beijing, Nov 26, 2020. [Photo/IC]
No 5 Singapore
A signage of Shopee, the e-commerce arm of Southeast Asia's Sea Ltd, is seen outside their office building in Singapore March 5, 2021. [Photo/Agencies]
No 4 Hong Kong
A Star Ferry boat crosses Victoria Harbor in front of a skyline of buildings during sunset in Hong Kong, June 29, 2020. [Photo/Agencies]
No 3 Shanghai
The view of Lujiazui area at the Bund in Shanghai, Aug 2, 2019. [Photo/IC]
No 2 London
The Big Ben in central London, Britain. [Photo/Xinhua]
