Top Asian centres drop in GFICI ratings reflecting uncertainty over trade and geopolitical unrest
Posted on: 27 March 2020
London retains its second position, and New York continues to head the rankings in the Global Financial Centres Index 27 (GFCI 27), launched on 26 March 2020 by Z/Yen Group in partnership with the China Development Institute (CDI) in London and Seoul.
Tokyo jumped into third place, easing out Hong Kong, Singapore, and Shanghai.
GFCI 27 showed a high level of volatility, with 26 centres rising ten or more places in the rankings and 23 falling ten or more places. This may reflect the uncertainty around international trade and the impact of geopolitical and local unrest with a flight to stability; and reflects the importance of sustainable finance, with Western European centres benefitting, and centres with a legacy of brown finance losing ground.
The table listing top 20 centres can be viewed here.
