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The Global Financial Centres Index (GFCI) ranks the competitiveness of financial centres based on over 29,000 assessments from an online questionnaire and over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit. The first index was ...
Prior to the 1960s, there was little data available to rank financial centres. [14]: 1 In recent years many rankings have been developed and published. Two of the most relevant are the Global Financial Centres Index and the Xinhua–Dow Jones International Financial Centres Development Index. [15]
Strength as a financial center has become one of the pre-eminent indicators of a global city's ranking. As of 2024, [36] the cities representing the top ten financial centers according to the Global Financial Centres Index by the think tank China Development Institute and analytics firm Z/Yen are: [37] New York City; London; Singapore; Hong ...
Hong Kong improved its standing among global financial centres in a newly released study, thanks to the popularity of its stock market and many cross-border trading schemes with mainland China ...
Global Financial Centre Index [20] City of London: 3/10 cities: The GFCI is a ranking of the competitiveness of financial centres based on a number of existing indices in combination with a regular survey of senior industry figures from around the world. Hong Kong ranked third behind New York and London. IT industry competitiveness index [21]
[122] [76] It is also why most modern corporate tax havens started as financial centres, where a critical mass of advanced professional services firms develop around complex financial structuring (almost half of the main 10 corporate tax havens are in the 2017 top 10 Global Financial Centres Index, see § Corporate tax haven lists). [12] [123] [13]
In 2020, GIFT IFSC bags 10th place in Financial Industry and top rank in emerging financial centres in Global Financial Centres Index. [24] [25] In October 2020, GIFT IFSC signed a memorandum of understanding with the London Stock Exchange Group (LSEG) to create a dual listing route for Masala bonds, which are rupee-denominated bonds issued ...
[41] [42] In the 2017 Global Financial Centres Index, London was ranked as having the most competitive financial center in the world. [43] However, in the 2018 ranking, London had lost that title to New York City.