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Hong Kong Clings to Finance Hub Ranking – SCMP

The city ranked third in the 31st edition of the semi-annual Global Financial Centres Index, produced by the China Development Institute in Shenzhen


Hong Kong
Hong Kong’s small and medium-sized businesses would face higher borrowing costs. "Hong Kong ... has been in a low interest rate environment for more than a decade," financial secretary Paul Chan wrote. Photo: Reuters.

 

Hong Kong held onto its third-place ranking globally, after New York and London, in the latest study of the world’s leading international financial centres even as a series of restrictive measures to combat the spread of the coronavirus weighed on the city’s economy, the South China Morning Post reported.

The city ranked third in the 31st edition of the semi-annual Global Financial Centres Index, produced by the China Development Institute in Shenzhen and the London think tank Z/Yen Partners. “The report reaffirms Hong Kong’s status and strengths as a leading global financial centre,” a Hong Kong government spokesman said.

Read the full report: South China Morning Post

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.