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Shanghai scores in financial center list
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Shanghai remains as the world’s sixth-most competitive financial center for the third consecutive year and continues to rate highly as one with the most potential, an industry index showed yesterday.
The city follows New York, London, Hong Kong, Tokyo and Singapore in the rankings, according to the Xinhua-Dow Jones International Financial Centers Development Index, which tracks the performance of 45 global financial centers.
New York remained the most competitive financial center with a score of 89.10 points, up from last year’s 87.27 points and 87.69 points in 2011.
With a planned pilot free trade zone and an ambition to become the world’s leading financial center by 2020, Shanghai has been rated a center showing the most potential for four consecutive years, beating Hong Kong, London and New York in terms of market growth, economic prospects, and innovation.
But the city fell from 12th place to 14th in terms of service, and also scored low on industrial support and openness, the report said.
Hong Kong surpassed Tokyo for the first time to become a top-three financial center, the index showed.
Beijing remained at No. 11, Shenzhen rose four places to 15th, and Taipei climbed six notches to No. 30, according to the index.
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