The latest ranking of the world's financial centers: Shanghai's first consecutive rise to the top three in the world

 The latest Global Financial Center Index released today, Shanghai's comprehensive score ranking rose again, surpassing Tokyo for the first time in the world's top three.

 September 25, by China (Shenzhen) Institute of Integrated Development Research and the United Kingdom, think tank Z/Yen Group jointly compiled the "28th Global Financial Center Index (GFCI 28)" report officially released. New York, London, Shanghai, Tokyo, Hong Kong, Singapore, Beijing, San Francisco, Shenzhen and Zurich are the top 10 financial centers in the world, according to the latest report.

 Among the world's five largest financial centers, Shanghai is catching up. Compared with the 27 th Global Financial Center ranking, the ranking of the top ten financial centers in the world has changed greatly. Among them, the Shanghai score rose again, surpassing Tokyo for the first time in the world's top three ranks, representing the highest position of Chinese cities in the global financial center.

 In the last three rankings, Shanghai was promoted to three levels. Shanghai is still in fifth place in the 26th issue of the Global Financial Center Index released last September, and in March, Shanghai rose to fourth place and is now in the top three in the world.

 Hong Kong's score rose 6 points, surpassing Singapore's fifth in the world. Shenzhen and Zurich are in the top 10, while Los Angeles and Geneva are "squeezed out" of the world's top 10 financial centers. Beijing and San Francisco ranked seventh and eighth in the world. So far,12 cities in mainland China have entered the global financial center index list.

 The "Matthew Effect" of Financial Center is obvious

Since March 2007, the London Z/Yen Group has released the first issue of the Global Financial Centre Index (GFCI 1), which continues to evaluate and rank the competitiveness of major financial centers around the world. The list is updated every March and September, and today is the 28th issue, covering 111 financial center cities and 10 candidate financial center cities around the world.

 According to the latest ranking, Shanghai, Hong Kong, Shenzhen and Zurich all rose in the top 10, while Tokyo fell to fourth in the world and Singapore fell again to sixth in the world.

 The report points out that the global financial center score overall fell, but the top 10 financial center score all rose against the trend, the global financial center "Matthew effect" increasingly obvious. The data show that the average score of global financial centers in the current period was 41 points lower than that of the previous period, and the scores of more than 80 financial centers declined, but the average score of the top 10 financial centers increased 7.7 points overall compared with the previous period. Or reflect the epidemic, only a few top financial centers market recognition and confidence remained high.

 Michael Meaney, chairman of the Z/Yen Group, a British think-tank, said the spread of the new crown did have a huge impact on the global economy, but not just the only one. Before the outbreak, many uncertainties had risen sharply, such as international trade, international relations, technological development, and so on.

 Michael Meneni believes that despite the decline in the average score, the top 10 financial centers in the rating index all scored against the trend. During the epidemic, large cities and Hong Kong cities can still provide good financial services.

Diversification of Mainland Financial Centres

With the addition of Xi'an and Wuhan,12 financial center cities in mainland China have been listed on the global financial center index. Among them, Shanghai, Beijing and Shenzhen have entered the top 10 in the world, Guangzhou has ranked 21, Chengdu and Qingdao have risen rapidly, ranking 43 and 47 in the world, Nanjing has ranked 89 in the world, while Xi' an, Tianjin, Hangzhou, Dalian and Wuhan have relatively low ranking and have a large room to rise. Shanghai ranks among the top three in the world and has achieved the best results in history. The report shows that mainland China's financial center "hard power" still has greater room for improvement.

China and the United States have outstanding advantages in financial science and technology

According to the report, New York ranked first in financial technology in the global financial center index financial technology ranking, followed by Beijing, Shanghai, London and Shenzhen. In the ranking, five of the top 15 financial centers come from China and six from the United States, reflecting that the level of financial science and technology development between the two countries has been generally recognized by the international financial community. The survey shows that financing channels and high-tech personnel are the most important factors to optimize the development environment of financial science and technology, while big data analysis and transaction payment systems are the most important application scenarios of financial science and technology.

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