Latest Financial Ratings Ranks Shenzhen at 27th Place
The latest ratings of the Global Financial Center Index have shown that Shenzhen climb up 11 places. The index report is created to examine the major financial centers of the world in terms of competitiveness. As of now Shanghai climbed 8 places to 16th, Beijing went down one place to 59th while Shenzhen is now at 27th place after climbing 11 places. New York, London, Singapore, Tokyo and Hong Kong are the on the top five of the list.
Zurich, Geneva and Frankfurt are still on the top ten cities but most of the financial centers in Europe are still feeling the pinch of uncertainty in the eurozone as Paris goes down 14 points, Amsterdam by 26, Madrid by 28 points. Munich, Athens and Lisbon also went down several points as well. This index report signifies the ratings of mainland cities have stopped slipping down and have started to climb up further indicating that the financial influence of Shenzhen and Shanghai is strengthening due to the development of the free trade zones.
Asian financial centers is fast changing global finances as new economic entities are emerging and growing fast, which in turn attracts new investment and professionals from American and European countries.
Produced by the Z/Yen Group in 2007 the Global Financial Center Index of GFCI came after a research project on a competitiveness of cities.