Singapore has overtaken Hong Kong in a global ranking of financial centres, which was led by New York and London, with Singapore third, Hong Kong fourth, Shanghai sixth and Beijing eighth, according to a report in the South China Morning Post, which said the 32nd edition of the semi-annual Global Financial Centres Index was produced by the China Development Institute in Shenzhen and the London think tank Z/Yen Partners.
Singapore jumped from sixth place to third in the latest index report, partly because of China’s controversial Covid restrictions. “Continuing travel restrictions in places like Hong Kong and Tokyo affect their ability to conduct normal levels of business,” the report’s authors explained.
Read the full report: SCMP.
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