Hong Kong has maintained third place globally and continued to rank first in the Asia-Pacific in the Global Financial Centres Index 39 Report published today by the UK’s Z/Yen and the China Development Institute.

Hong Kong’s overall rating in the report increased one point to 765. The rating gaps with first place, New York, and second place, London, were only two points and one point respectively.

Hong Kong continued to rank first globally in fintech offerings. In the assessment by practitioners in various financial industry sectors, the city’s rankings generally improved. Notably, its rankings in the banking and finance sectors leapt to first place worldwide.

Hong Kong also continued to top the global ranking in the insurance sector, while the investment management ranking rose to second place globally.

In addition, the city’s rankings in the five areas of competitiveness, namely business environment, human capital, infrastructure, financial sector development, and reputational and general, continued to stay among the global top three positions.

The Government said the report reaffirms Hong Kong’s leading position and strengths as an international financial centre.

This year marks the beginning of the National 15th Five-Year Plan. As the world is evolving quickly, Hong Kong will respond to the current complex and ever-changing global political and economic landscape with an innovative mindset.

At the same time, Hong Kong will proactively align with the National 15th Five-Year Plan, foster new quality productive forces in accordance with local conditions and accelerate the high-quality economic and financial development.

Hong Kong will continue to leverage its unique advantages under the 'one country, two systems' principle to play its role as a super connector and super value-adder,  and seize the opportunities emerging from the reshaping of the global investment landscape.

This year, the Government pointed out, the Asian Infrastructure Investment Bank will set up an office in Hong Kong that serves both its financing and operational functions. This move reflects the bank’s confidence in Hong Kong’s strengths as an international financial centre.

On asset and wealth management business, Hong Kong-domiciled authorised funds recorded net inflows of $357 billion last year, fully reflecting the affirmation and confidence of international investors in the Hong Kong market.

The development of the family office ecosystem continues to be robust. As of the end of last year, the number of single-family offices in Hong Kong exceeded 3,380, representing growth of more than 25% over the past two years, the Government added.