Shenzhen Moves Two Places Up Among Global Financial Centers

Shenzhen Moves Two Places Up Among Global Financial CentersNew data showed that Shenzhen have advance two places from the previous Dow Jones ranking in 2011 and is now 19th among the global financial centers. London, New York and Tokyo still remains in the top three spots and Shanghai maintains its 6th place in the ranking based on the Xinhua-Dow Jones International Financial Centers Development.

According to the IFCD index evaluation sees on the development level, the capacity of international financial centers in five aspects to get ranked. The five aspects are growth potential, financial market, industrial support, financial environment and service level. As of today the index have rank 45 major financial centers. Shenzhen is eighth in growth potential which signals the city’s strong desire for further development.

To complete the top ten Hong Kong is number 4 followed by Singapore, Shanghai, Frankfurt, Paris, Zurich and Chicago. Beijing has advance three positions from last year’s ranking of 11th. In the 45 cities that are ranked 21 of them are found in Europe and 14 in the Asia Pacific and African regions. Survey have shown that even if these European cities are dominating the ranking in number, most of them are sliding downward indicating the impact of the global debt crisis on these traditional financial centers and the emerging influence of newer economies.

IFCD index is a well known system that ranks financial center scientifically and comprehensively. Its system creates an evaluation of 45 global financial centers by comparing competitiveness while forecasting their development and direction.

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