Singapore has been overtaken as the top financial center in Asia Pacific for the first time in two years, according to an index by China Development Institute and London-based Z/Yen Partners.
Hong Kong has become the top hub in Asia Pacific, according to the 36th edition of the «Global Financial Centres Index» (GFCI). The city surpassed Singapore which was the region’s top financial center since September 2022.
Globally, New York held the top ranking followed by London, Hong Kong, Singapore and San Francisco.
The GFCI, co-produced by Shenzhen-based China Development Institute and London-based Z/Yen Partners on a semi-annual basis, evaluated 121 financial centers globally based on 143 different factors and an online questionnaire with 6,188 respondents.
