Hong Kong SAR, 1 April 2025 – Hong Kong has reaffirmed its position as the world’s third-leading financial centre, maintaining its ranking in the latest Global Financial Centres Index (GFCI). The city continues to trail only New York (No.1) and London (No.2), with an overall rating increase of 11 points to 760, securing its place as the top financial hub in the Asia-Pacific region.
The biannual GFCI, jointly published by the United Kingdom-based Z/Yen Group and the China Development Institute from Shenzhen, also ranked Hong Kong No.4 globally for fintech offerings—a notable five-place jump compared to the previous index.
Government Endorsement and Market Competitiveness
The Hong Kong Special Administrative Region (HKSAR) Government welcomed the ranking, citing it as a recognition of the city’s robust financial ecosystem and global competitiveness. Hong Kong improved its standings across multiple competitiveness indicators, rising to second place in “human capital,” “infrastructure,” and “financial sector development.” The city also placed third in “business environment” and “reputation and general factors.”
“The ratings reflect that our continued efforts to enhance the diversity and competitiveness of Hong Kong as an international financial centre have gained international recognition,” said Paul Chan, Financial Secretary of the HKSAR. “By adhering to fundamental principles while embracing innovation and reform, Hong Kong’s global financial status will continue to strengthen.”
Strength in Core Financial Sectors
Hong Kong ranked first globally in “investment management,” “insurance,” and “finance,” while securing third place in “banking.” This strong performance aligns with government-led initiatives to drive market development, expand financial product offerings, and enhance liquidity.
Key strategies introduced in the 2025-26 Budget include:
- Optimizing the listing process and requirements for specialist technology firms, providing a growth stimulus to the local stock market.
- Strengthening financial integration with Mainland China through expanded offshore Renminbi (RMB) business and enhanced Bond Connect settlement mechanisms.
- Advancing asset and wealth management via enhancements to the Cross-boundary Wealth Management Connect Scheme, ETF Connect, and the Mainland-Hong Kong Mutual Recognition of Funds arrangement.
Future Growth: Fintech and Virtual Asset Integration
To reinforce its fintech leadership, the HKSAR Government is taking a multi-pronged approach that includes infrastructure enhancement, ecosystem development, and cross-border collaborations. A second policy statement on virtual assets will soon be issued, exploring the integration of traditional finance with digital asset markets.
In October 2024, the government outlined its approach to responsible AI application in the financial sector. Meanwhile, the Hong Kong Monetary Authority (HKMA) and Hong Kong Cyberport launched a Generative AI Sandbox to accelerate fintech innovation, particularly in banking services.
Additionally, HKMA has introduced a stablecoin issuer sandbox, enabling institutions to test stablecoin issuance frameworks in a controlled environment before market deployment.
Strengthening Hong Kong’s Global Financial Leadership
Looking ahead, the government remains committed to diversifying Hong Kong’s financial market and positioning the city as a premier hub for emerging asset classes. Plans to develop Hong Kong into a gold trading centre are already in motion, with a dedicated working group formulating measures to enhance trading infrastructure, regulatory frameworks, and market expansion.
By leveraging its distinct advantages and fostering high-quality financial innovation, Hong Kong is set to solidify its status as a dynamic international financial centre in the evolving global economy.
