Hong Kong rises to fourth in global financial centre rankings on the back of strong IPO market, mainland stock links

Hong Kong improved its standing among global financial centres in a newly released study, thanks to the popularity of its stock market and many cross-border trading schemes with mainland China, officials said.

Hong Kong ranked fourth in the 29th edition of the Global Financial Centres Index (GFCI) report, which is published by City of London’s think tank Z/Yen Group in partnership with the Shenzhen-based research firm China Development Institute. New York maintained its top spot, followed by London and Shanghai.

Singapore came in fifth and Beijing sixth while Tokyo dropped three places from fourth to seventh.