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The British Z/Yen Group and the China (Shenzhen) Comprehensive Development Research Institute jointly released the new “Global Financial Center Index” report on the 24th. Hong Kong’s overall ranking is third in the world, surpassing Singapore and ranking first in the Asia-Pacific region. A spokesman for the SAR Government said that the report clearly affirms Hong Kong’s status and strength as a leading global financial center.
Rising to third place in the world and first in the Asia-Pacific region
The British Z/Yen Group and the China (Shenzhen) Comprehensive Development Research Institute issued a joint statement on the 24th.The 36th “Global Financial Centers Index” reportamong the 121 financial centers in the world, Hong Kong’s overall score is 749 points, ranking third in the world, up one place from March this year, and ranking first in the Asia-Pacific region; the overall score increased by 8 points, ranking among the top five financial centers. The centers have improved the most, with the top five rankings being New York, London, Hong Kong, Singapore and San Francisco. The report has been published in March and September every year since 2007.
A spokesman for the SAR Government said that the report clearly affirms Hong Kong’s status and strength as a leading global financial center. Hong Kong’s competitiveness scores in “Business Environment”, “Human Capital”, “Infrastructure”, and “Reputation and Comprehensiveness” are among the best. The rankings of many financial industry fields have also risen significantly, including “Investment Management”, “Insurance Industry”, “Banking Industry”, “Professional Services”, etc., among which the ranking in “Investment Management” has jumped to the first place in the world. In addition, the report assesses the level of fintech in financial centres, with Hong Kong rising five places to ninth, making it among the top 10 fintech centres.
Hong Kong’s asset and wealth management business is booming
The spokesman pointed out that Hong Kong’s asset and wealth management business is booming. At the end of 2023, the scale of assets under management increased by about 2% from the previous year to more than HK$31 trillion, and net fund inflows were close to HK$390 billion, a year-on-year increase of more than 3.4%. times. The development momentum of the family office business in Hong Kong continues to be good; the “New Capital Investor Entry Scheme” has continued to receive enthusiastic response since its launch in March, with more than 550 applications received so far, and it is expected to bring an investment amount of more than HK$16.5 billion to Hong Kong.
The government will continue to actively recognize, respond to, and seek changes to promote high-quality development of the financial industry. In terms of the stock market, we actively expand the breadth and depth and improve the efficiency and competitiveness of the market, including establishing a listing system for specialized technology companies, reforming GEM, implementing trading maintenance during severe weather, facilitating repurchases and launching new treasury share mechanisms, and further Expand the listing of enterprises, etc.