The Global Financial Centres Index 35 published in March 2024 by Z/Yen (London) and the China Development Institute (Shenzhen) reviewed 133 financial centres. The report was compiled using 145 factors provided by third parties including the World Bank, The Economist Intelligence Unit, the OECD, and the UN, and then combined with 48,365 assessments of financial centres provided by 8,494 respondents to the GFCI online questionnaire.
The resulting leading centres are:
• New York leads the index, with London second, ahead of Singapore in third place, which has maintained its slight lead over Hong Kong in fourth position.
• San Francisco remains at number five, with Shanghai overtaking Los Angeles in sixth place, and the latter dropping to eighth.
• Geneva climbed to seventh, with Chicago stable in ninth, and Seoul re-entering the top 10 at number 10.
The GFCI questionnaire asked which centres would become more significant over the next 3 to 5 years. Seoul was #1 and Singpore #2, then Dubai and Hong Kong.
Singapore and London rank second place (after NY) for competitiveness.
While Hong Kong still ranks high, increasing control by Beijing (including the recent security law) are having, and will continue, to have an impact.
Finally, a reminder that Oasis Pro has a cross-listing agreemen with the InvestaX alternative exchange in Singapore and are actively pursuing similar agreements covering Tokyo and Seoul.