Shanghai ranks 6th in financial center rating

By Feng Jianmin | September 10, 2013, Tuesday |

Online Edition

Shanghai this year stays the world's sixth most competitive financial center for the third consecutive year after New York, London, Hong Kong, Tokyo, and Singapore, an industry index showed today.

Hong Kong surpassed Tokyo for the first time to become one of the top three financial centers on greater potential, according to the Xinhua-Dow Jones International Financial Centers Development Index, which tracks the performance of 45 international financial centers in the world.

Shanghai, with a pilot free trade zone taking shape and an ambition to become the world's leading financial center by 2020, was rated a center showing the most potential for four straight years, beating Hong Kong, New York and Tokyo in terms of market growth, economic prospect, and innovation.

But in terms of service, Shanghai fell from the 12th place to 14th. The city also paled in industrial support and openness, the report said.

Financial centers in emerging markets have generally scored higher while those in Europe were losing momentum last year, the report said.

New York remained the most competitive financial center in the world with a score of 89.10 points, up from last year’s 87.27 and 2011’s 87.69.

Economy

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Shanghai ranks 6th in financial center rating

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