Hong Kong Reclaims Throne as Asia’s Leading Financial Centre: A Rise from Pandemic Closures to Stock Market Success

Hong Kong surpasses Singapore to become Asia's leading financial hub, according to a significant ranking

For the first time since September 2022, when the city was shut down because of the pandemic, Hong Kong has reclaimed its position as Asia's premier financial center from Singapore.

For the first time in two years, Hong Kong has surpassed Singapore to become Asia's leading financial hub, as per the most recent version of the bi-annual Global Financial Centres Index, which was published on Tuesday.

According to research conducted by the China Development Institute in Shenzhen and London's Z/Yen Partners, Hong Kong holds the third position worldwide, trailing behind New York and London. The list of top five is completed by Singapore and San Francisco, based on the study of 121 cities across the globe.

In the September 2022 rankings, Singapore overtook Hong Kong to become the leading city in Asia. This came after Singapore eased its travel limitations in April that year, while Hong Kong sustained its restrictions until January 2023.

The city's prominence as the leading financial hub in the area has been boosted by a robust stock market and the introduction of new listings.