Hong Kong maintained fourth place globally in the Global Financial Centres Index 34 Report published today by Z/Yen from the UK and the China Development Institute from Shenzhen.

The Government said Hong Kong's overall rating increased notably, with the global rankings in the four areas of business environment, human capital, financial sector development, and reputational and general rising to fourth, reflecting the recognition of Hong Kong's sustained strength and robustness as an international financial centre in the post-COVID-19 era.

With its inimitable advantages of being backed by the motherland and connected to the world under “one country, two systems”, Hong Kong has been contributing to and benefiting from the reform and orderly opening up of the Mainland’s financial market, and serving as a firewall and testing ground, the Government added.

While the country is continuously moving towards high-level two-way opening up to the world, spearheading high-quality development and at the same time vigorously promoting green transformation, the Government stressed that Hong Kong, being the country’s international financial centre, will continue to actively align with the national development strategy.

Hong Kong will deepen mutual access and high-level co-operation, connect funds and investors of the Mainland and overseas places, serve the country's needs with its strengths, and create more opportunities for the financial industry of the country as well as Hong Kong.

The city will also continue to reinforce the impetus for strong growth and make good use of its institutional advantages to solidify its capital market and status as an international financial centre.

The Government said it is sparing no effort in enhancing the breadth and depth of Hong Kong’s capital markets. Recent measures include launching the Hong Kong Dollar-Renminbi Dual Counter Model and expanding the scope of eligible stocks under the Stock Connect.

Hong Kong Exchanges & Clearing has begun a public consultation on specific reform recommendations for the Growth Enterprise Market and will launch FINI, an electronic settlement platform for initial public offerings.

The Government has also set up the Task Force on Enhancing Stock Market Liquidity to holistically review the factors affecting market liquidity and put forward comprehensive recommendations.

It will continue to develop new markets and explore more international co-operation opportunities in areas such as green finance and financial technology to continuously strengthen Hong Kong's competitiveness.