Hong Kong secures world no.3 ranking in global financial centres index

On March 20, 2025, Hong Kong SAR achieved a notable milestone in its global financial reputation by retaining the World No.3 ranking in the latest Global Financial Centres Index (GFCI). This remarkable positioning follows New York and London, which hold the top two spots respectively. The report, which is biannual, was published by Z/Yen from the UK and the China Development Institute from Shenzhen, underscoring Hong Kong's overall rating improvement by 11 points, reaching a total of 760. This advancement cements its status as the leading financial centre in the Asia-Pacific region. Hong Kong also saw a significant advancement both in its fintech offerings, moving up five positions globally to rank No.4. This is indicative of the city's ongoing efforts to enhance its services and diversify its financial sector. The Hong Kong Special Administrative Region Government welcomed the positive assessment, viewing it as international recognition for the city's efforts to bolster its capabilities as an international financial centre. Mr. Paul Chan, the Financial Secretary of the HKSAR, expressed confidence in Hong Kong's potential for further development, emphasizing the necessity for flexibility, bold reforms, and strategic responses to evolving financial landscapes. In addition to its overall performance, specific sectors highlighted Hong Kong's strengths, particularly in investment management, insurance, and finance, where it ranked first globally. The city also placed third in banking. This achievement reflects the successful government initiatives designed to foster development in various financial market segments, enhancing liquidity and encouraging the listing of specialist technology companies to attract new investments. Measures such as deepening financial connectivity between the Mainland and Hong Kong have been crucial components of this strategy. The Hong Kong Government has also demonstrated commitment to facilitating the growth of fintech through infrastructure enhancements, nurturing talent, and strengthening cooperation with the Mainland and global entities. Recent projects, such as the Generative AI Sandbox for banking innovation and stablecoin issuer sandbox, indicate proactive measures adopted to embrace financial technology advancements. Looking forward, the government plans to develop Hong Kong into a gold trading centre and will soon update its policy on virtual asset integration into traditional finance, suggesting a future-focused approach towards sustaining a high-quality financial market in Hong Kong.