Hong Kong Ranks 4th as a Global Finance Hub
Hong Kong lands the 4th position out of 119 as a global finance hub in the Global Financial Centres Index 32 Report.
This is a step up from its previous ranking, going from the 8th position to the 4th. Hong Kong’s rating was 725 in terms of financial sector development.
Taking Bold Steps Forward
Hong Kong remains confident in its future competitiveness and position as an international finance hub. It continues taking bold steps forward, strengthening, consolidating, and reforming the capital market. Clearly, these measures have proven successful since Hong Kong moved up four spots.
Hong Kong is working hard to maintain its distinctive status and cutting edge over the competition. It has the full support of the Central People’s Government, utilizing the national policies and the institutional advantage that Hong Kong has.
The “one country, two systems” is one such advantage. Hong Kong also attributes its success to the risk management system and regulatory regime in place. All these measures combined have made it into the solid finance hub it is today.
Hong Kong’s efforts have created a strong buffer and ability to stay resilient. This has helped significantly, especially in terms of managing any unexpected shocks that might affect the financial markets.
Bridging the Connections for Investors
Investors are no strangers to the advantage that Hong Kong has. There is a reason it has thrived as a finance hub and continues to do so. That is because Hong Kong continuously pours its energy into connecting markets and investors of Mainland China with the rest of the world. Doing so has helped to facilitate the opening of the Mainland’s financial markets and encourage reform.
Furthermore, the China Securities Regulatory Commission intends to expand the mutual market access arrangement further. New and innovative measures continue to be introduced to attract some of the top talents into Hong Kong. A necessary measure to strengthen the growth of Hong Kong’s economy and take its competitiveness level a step further.
The Hong Kong Government plans to keep developing the financial services sector. An innovative mindset is going to be the key to success and meeting the needs of the financial market. Only then can national development truly spring forward.