Hong Kong immigration experience the charm of Hong Kong: The "2013 Xinhua-Dow Jones International Financial Centers Development Index" released on the 10th shows that the top 10 international financial centers are New York, London, Hong Kong, Tokyo, Singapore, Shanghai, Paris, Frankfurt, Chicago, and Sydney.
Comparing the rankings over the past three years, the top ten cities have been the most stable among all 45 sample cities, especially the top six, which are essentially New York, London, Hong Kong, Tokyo, Singapore, and Shanghai, with only minor fluctuations in their relative positions in certain years.
□ New York: Number One for Four Consecutive Years
Since the release of the Xinhua-Dow Jones International Financial Centers Index in 2010, New York has relied on its formidable strength to remain the champion for four consecutive years. As the economic center of the United States and the entire world, the maturity and development of New York's financial market are beyond doubt. On Wall Street, which is less than a mile long and only 11 meters wide, world-class banks, stock exchanges, insurance companies, and other financial institutions are clustered together, and the New York Stock Exchange sees massive financial transactions every day. However, in terms of the "Growth and Development" factor in 2013, New York declined compared to 2012, falling behind Shanghai, Hong Kong, and London, returning to the 4th place ranking it held in 2010 and 2011.
□ London: Still Going Strong
Although European countries have been plagued by the sovereign debt crisis since last year, London remains in second place on the comprehensive index list as Europe's largest financial center capable of competing with New York, demonstrating the strength of this veteran financial city. In the "National Environment" factor, which reflects political, economic, and natural conditions, London swapped places with New York to rank first in 2013; in terms of the "Growth and Development" factor, it remains firmly in third place.
□ Hong Kong: First Time in the Top Three
The "Pearl of the Orient," Hong Kong, surpassed Tokyo for the first time in 2013 to become the third-ranked international financial center in terms of global comprehensive strength, forming a relatively stable cluster of regional financial centers globally alongside Tokyo, Singapore, and Shanghai. As a highly prosperous international metropolis, Hong Kong outperformed London and New York this year in the "Growth and Development" factor, ranking second; it also performed excellently and consistently across other evaluation factors.
□ Tokyo: A Long Road Ahead
Hong Kong's rise in the rankings has pushed Tokyo out of the top three global financial centers for the first time this year. Compared to high-growth Asian financial centers like Shanghai, Hong Kong, and Singapore, Tokyo appears to lack vitality. However, in terms of financial markets, service levels, and industrial support, Tokyo still ranks in the top three, maintaining its long-standing strength and remaining competitive against European and American financial centers.
□ Singapore: A Diverse Metropolis
Compared to the fluctuations of other cities, Singapore's ranking has been very stable, holding the fifth position in global financial center comprehensive strength for three consecutive years. As a multi-ethnic immigrant nation, Singapore possesses remarkable strength, ranking fifth in the "Growth and Development," "Service Level," and "National Environment" factors, and sixth in the "Industrial Support" factor.
□ Shanghai: The Most Promising for Growth
In the 2013 global financial center comprehensive competitiveness ranking, Shanghai maintained its sixth position. In terms of the "Growth and Development" factor, it has ranked first for four consecutive years, making it the financial center city with the most growth potential in the Asia-Pacific region. Especially when looking at the development of financial center cities in BRICS countries, Shanghai ranks first in confidence, capital attractiveness, talent attractiveness, richness of financial products, degree of financial innovation, and financing convenience. However, from a global perspective, Shanghai's "Industrial Support" dropped one place to fifth compared to 2012, and the "shortcoming" in service levels still needs to be improved and perfected.
□ Paris: A V-Shaped Reversal
Paris's comprehensive ranking rose from 8th in 2012 to 7th this year, a sharp contrast to the gradual downward trend of the previous three years. Among European financial centers, Paris ranks just behind London. It ranks eighth in the "Industrial Support" factor, showing an upward trend, and sixth in both the "Service Level" and "National Environment" factors.
□ Frankfurt: Comprehensive Decline
European financial centers are the birthplace of modern world financial centers, and tradition and prestige have always been their hallmark image. However, as the European debt crisis continues to ferment, the European economy and the Euro have remained in a slump over the past year. Frankfurt's comprehensive ranking swapped places with Paris from 2012, placing it eighth. Looking at the "Financial Market" factor, which consists of capital markets, foreign exchange markets, banking markets, and insurance markets, Frankfurt's ranking dropped 3 places to eighth compared to 2012. Additionally, its "Growth and Development" ranking fell out of the top ten, dropping 5 places to 15th, while the "Industrial Support," "Service Level," and "National Environment" factors declined by 3, 2, and 4 places respectively to 10th, 9th, and 8th.
□ Chicago: Ranking Rise
Compared to 2012, Chicago, an important financial center in the U.S. Midwest, saw its comprehensive ranking rise by 1 place to 9th, and it also rose one place to 9th in the "Industrial Support" factor, which consists of business environment and intellectual capital. Chicago is the second-largest commercial center in the United States and also home to the largest futures market in the country. The Chicago Board of Trade is currently one of the most representative agricultural product exchanges in the world, and in 2006, it merged with the Chicago Mercantile Exchange to form the world's largest derivatives exchange—the CME Group.
□ Sydney: Returning to the Top Ten
Following 2012, Sydney has returned to the top 10 list. The maturity and development of financial markets are the primary core factors for the development of financial centers. Sydney has joined the top ten alongside Tokyo, Hong Kong, Singapore, and Shanghai for the first time, indicating that the financial market status of Asia-Pacific financial centers is gradually stabilizing. Sydney's "Service Level" showed positive fluctuation, rising 2 places to eighth; its "National Environment" has returned to the top ten.