GFCI 28 Headlines
New York again headed the rankings in the Global Financial Centres Index 28, launched today by Z/Yen Group in partnership with the China Development Institute (CDI) in London and Seoul.
London improved its performance, and while it remained in second position, it closed the gap in the GFCI ratings on New York.
Shanghai overtook Tokyo to take third place. While Hong Kong and Singapore took fifth and sixth place.
GFCI 28 again shows a relatively high level of volatility, with 23 centres rising ten or more places in the rankings and 20 falling ten or more places.
Overall, the average rating of centres in the index dropped over 41 points (6.25%) from GFCI 27, which may indicate a more general lack of confidence in finance during a time of continuing uncertainty around international trade, the impact of the covid-19 pandemic on individual economies, and geopolitical and local unrest.
All of the top ten centres in the index increased their ratings in GFCI 28, reversing recent trends. Of the next 40 centres, 12 improved their rating while 27 fell. This may indicate increased confidence in leading centres during the covid-19 pandemic.
The top 20 centres are shown in the table below.
Other News
Leading Centres
Western Europe
Asia/Pacific
North America
Eastern Europe & Central Asia
Middle East & Africa
Latin America & The Caribbean
FinTech
Full details of GFCI 28 can be found at www.globalfinancialcentres.net
Professor Michael Mainelli, Executive Chairman of Z/Yen, said:
"GFCI 28 shows increased confidence in the leading financial centres, but a general reduction in confidence in other centres. Uncertainty about trade, political stability, and the economic impact of the covid-19 pandemic has injected more volatility into the index results. New ways of working are challenging the concept of a traditional financial centre. For example, the physical City of London has had an economically torrid covid-19, while financial services in SouthEast England have had a bumper year.”
ENDS
Information For Editors
About GFCI 28
GFCI 28 rates 111 financial centres across the world combining assessments from financial professionals with quantitative data which form instrumental factors.
GFCI 28 uses 54,509 financial centre assessments collected from 8,549 financial services professionals who responded to the GFCI online questionnaire. The GFCI is updated regularly and ratings change as assessments and instrumental factors change.
To find out more about sponsorship opportunities, joining the Vantage Financial Centres network, further research, and bespoke reports on individual financial centres, please contact us.
Previous Editions
Previous editions of the GFCI can be accessed at www.longfinance.net/programmes/financialcentrefutures/global-financial-centres-index/publications.html
Long Finance
The GFCI is updated every March and September and receives considerable attention from the global financial community. The index serves as a valuable reference for policy and investment decisions.
Z/Yen is the City of London's leading commercial think-tank, founded in 1994 to promote societal advance through better finance and technology. The Global Financial Centres Index was created in 2005, first published in 2017, and published every six months since. In July 2016, Z/Yen and the China Development Institute (CDI) in Shenzhen established a strategic partnership for research into financial centres. GFCI is published as part of the Financial Centre Futures research in Z/Yen’s Long Finance knowledge hub.
Contact
For more information please email Mike Wardle at mike_wardle@zyen.com or by phone on +44 (0) 20 7562 9562 or +44 (0) 7880 737319.