HK maintains financial ranking

March 23, 2023

Hong Kong maintained fourth place globally in the Global Financial Centres Index 33 Report published today by Z/Yen from the UK and the China Development Institute from Shenzhen.


In a statement, the Government said Hong Kong’s improved rankings in the four areas of business environment, infrastructure, financial sector development, and reputational and general, fully reflect the city’s strengths and advantages as a leading global financial centre.


Hong Kong's rankings in these four areas rose by two places as compared with the previous issue.


Financial industry practitioners based in Hong Kong were the most confident about the city’s future competitiveness as an international financial centre, as compared to the assessment by practitioners from other major financial centres on the prospects of the cities in which they were based.


The Government said in view of intense international competition, it has adopted a more vigorous and proactive development approach to consolidate Hong Kong’s strengths and continuously enhance the city’s competitiveness.


It is pressing ahead with institutional enhancements and policy innovations as well as boosting promotion and publicity on Hong Kong's full return to normalcy.


The Government noted that it will continue to make good use of Hong Kong’s institutional advantages under “one country, two systems” to strengthen the city’s capital market and its role as an international financial centre, adding that it was confident the financial system could withstand external shocks and remain resilient.


The Government also cited President Xi Jinping’s address at the closing meeting of the first session of the 14th National People’s Congress, which outlined firmly promoting high-quality development and making solid efforts in advancing the implementation of the “one country, two systems” principle.


Pointing out that the 14th Five-Year Plan confirms Hong Kong's important functions and positioning in the country’s overall development, the Government said the city will continue to consolidate its status as an international financial centre.


Hong Kong will also give full play to connecting markets and investors of the Mainland and overseas, serving the country’s needs with its strengths.


Recently, the Central People’s Government promulgated an opinion setting out 30 measures on financial reform and innovation, further strengthening the connection and high-level co-operation between the financial markets of Hong Kong and Shenzhen, and providing more opportunities for Hong Kong’s financial sector.


With the country's staunch support and Hong Kong's unique advantages under "one country, two systems", the city will continue to create a strong impetus for growth and seize historic opportunities offered by the national development, the Government added.

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