Heavyweight | Latest Ranking: Hong Kong returns to the world's 3rd place!

Recently, the Z/Yen Group, a British think tank, together with the China (Shenzhen) Institute of Comprehensive Development Research, jointly released the36th Global Financial Centers Index Report(GFCI 36).

The report shows thatHong Kong back to No. 1 in Asia! Overall Ranking 3rd in the world, just one point behind London.

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return to the top three

Hong Kong's strengths are evident

The GFCI Index report is released every six months and provides a comprehensive assessment of the competitiveness of the world's major financial centers through a total of 150 indicators in five categories, including business environment, human capital, infrastructure facilities, level of financial industry development and reputation.
The top ten financial centers in this ranking are, in order:New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen and Frankfurt.

After lagging behind Singapore for four consecutive periods, Hong Kong has successfully overtaken Singapore and regained its position as the world's third largest financial center, andOnly one point behind London.The

This achievement not only signifies the market's boosted confidence in Hong Kong's financial industry, but also reflects the resilience and adaptability that Hong Kong has demonstrated in the fast-changing global financial landscape.

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Financial development in Hong Kong

Multi-faceted performance

In response, a spokesman for the Hong Kong Government said that the report clearly recognized Hong Kong's position and strength as a leading global financial center.

1️⃣ Multiple rankings rise

Hong Kong's ranking in a number of financial sectors, such as investment management, insurance, banking and professional services, has risen significantly, with a significant increase in theRanking of investment management jumps to No. 1 globallyThe

Among the five assessment categories, the city ranked third in "Human Capital" and fourth in Business Environment, Infrastructure, Reputation and Overall Rating, demonstrating its balanced development in various aspects.

In addition, the report assesses the FinTech level of financial centers, and Hong Kong's ranking rises five places to ninth, among theTop 10 Fintech CentersThe

2️⃣ Asset and Wealth Management Businesses Thriving

Hong Kong's asset and wealth management business is booming, with assets under management statistically growing by about 2% to over at the end of 2023 compared to the previous year.31 trillion dollarsThe net capital inflow was close to $390 billion yoy.A jump of more than 3.4 times.

3️⃣ Family Office Gains Momentum

The family office business in Hong Kong continues to gain momentum. Over 550 applications have been received since the launch of the new Capital Investment Entrant Scheme (CIES) in March and it is expected that the scheme will be launched in the coming months.The amount of investment brought to Hong Kong is over $16.5 billion.

All these messages show that Hong Kong is moving at a steady pace.Toward a More Brilliant FutureThe

If you are planning to set up a family office in Hong Kong, make an investment, or want to apply for a Hong Kong identity, please feel free to enquire!