London Daily

Focus on the big picture.
Monday, Sep 15, 2025

Hong Kong rises to fourth place in global financial centre rankings

Hong Kong rises to fourth place in global financial centre rankings

Hong Kong rose two places in this year’s Global Financial Centres Index, but is yet to fully recover from the impact of the social unrest in 2019, study shows.

Hong Kong improved its standing among global financial centres in a newly released study, thanks to the popularity of its stock market and many cross-border trading schemes with mainland China, officials said.

Hong Kong ranked fourth in the 29th edition of the Global Financial Centres Index (GFCI) report, which is published by City of London’s think tank Z/Yen Group in partnership with the Shenzhen-based research firm China Development Institute. New York maintained its top spot, followed by London and Shanghai.

Singapore came in fifth and Beijing sixth. Tokyo dropped three places from fourth to seventh.

“We are encouraged by the fact that Hong Kong has consistently been ranked among the top financial centres in the world since Global Financial Centres Index’s debut in 2007,” said Laurence Li Lu-jen, chairman of Financial Services Development Council, a Hong Kong government-funded body tasked with promoting the sector.

Laurence Li Lu-jen, chairman of Financial Services Development Council.


Li credited Hong Kong’s rise in the latest index to market participants who believe in the hub’s “strong connectivity with mainland China
and other Asian markets, its business-friendly environment with sound legal and regulatory framework as well as ease of doing business and its efficient financial infrastructure.”

The city fell three places to the sixth in March 2020 as business sentiment was affected by the months-long anti-government protests triggered by the now-withdrawn extradition bill in June 2019. It was ranked fifth in September 2020.

The ranking, released twice a year in March and September, is based on a global online survey of over 10,774 respondents, who evaluate 126 cities on five areas of competitiveness.

While Hong Kong ranked fourth in terms of business environment, human capital, infrastructure and reputation, it ranked fifth in financial sector development, said Mike Wardle, director and head of indices of Z/Yen Group, one of the authors of the report.

“The achievement for Hong Kong is that it is firmly established among the leading world financial centres in a very competitive system. We expect this to continue to be the case going forward,” Wardle said.

Hong Kong’s main board ranked second last year after Nasdaq, with companies raising over US$50 billion from IPOs, a year-on-year jump of 27 per cent. The city carried out a listing reform in 2018 to allow tech companies with weighted voting rights and pre-revenue biotech firms to list.

“Hong Kong’s financial markets have indeed performed very well over the last year,” Christopher Hui Ching-yu, Secretary for Financial Services and the Treasury told a webinar on Wednesday, where he was joined by the authors of the report. “Despite challenges and uncertainties presented by the Covid-19 pandemic, our markets demonstrated resilience and robust performance in terms of IPO funds raised and trading volume.”

“Not only is Hong Kong a preferred international fundraising platform now, but it is also the world’s second largest fundraising hub for biotech companies,” Hui said.

A total of 43 companies have raised a combined US$54 billion under the new listing regime. This includes Alibaba Group Holding, the owner of this newspaper, which raised US$12.9 billion from its secondary listing in November 2019.

The trend continues this year with search engine Baidu launching a secondary share sale this week.

Hui said the stock exchange plans to conduct a study to expand the listing reform to allow more US-listed Chinese companies to qualify for secondary listings and special purpose acquisition companies (SPACs), also known as the blank cheque companies, to list here.

Other proposals currently under consideration include cross-border trading schemes such as the ETF connect, wealth management connect and the south bound link of the bond connect.

Newsletter

Related Articles

0:00
0:00
Close
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
Pig Heads Left Outside Multiple Paris Mosques in Outrage-Inducing Acts
Nvidia’s ‘Wow’ Factor Is Fading. The AI chip giant used to beat Wall Street expectations for earnings by a substantial margin. That trajectory is coming down to earth.
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
On the Anniversary of Queen Elizabeth’s Death: Prince Harry Returns to Britain
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Murdoch Family Finalises $3.3 Billion Succession Pact, Ensuring Eldest Son’s Leadership
×