SINGAPORE, Sept. 20 -- Asian financial centers have performed well with many rising higher in the rankings of the Global Financial Centers Index, local media reported Monday.
3 y4 t! q7 D& u; H0 r. z, N3 ~ China's Hong Kong was ranked third in the index, for the second year running and is now only ten points behind New York and twelve behind first placed London, local radio 938 Live reported on Monday.
; |2 l% R9 i; o' I0 G" v$ Y Singapore kept its fourth spot while Tokyo remained 5th, also unchanged from last year.
; W7 @* V q" Q6 e Another indisputable sign of the rising prominence of Asian financial hubs, China's Shanghai leap-frogged over cities such as Chicago, Zurich and Sydney to clinch sixth place, up 5 spots in the ranking.
/ a, N) R, ]1 M; ]4 q The report said the top four centers control a large proportion of financial transactions with over 70 percent of equity trading.1 u& W3 y; A3 K- y8 z4 c
It also said that the top financial centers are likely to remain powerful for the foreseeable future." J R! `5 E1 V: C0 S
Respondents also highlighted Shenzhen, Shanghai, Singapore, Seoul and Beijing as the five financial centers most likely to become more significant in the next few years.; t8 m. u" `( d! s5 Z
75 financial hubs were ranked in the index based on surveys of professionals and a criteria including business environment, market access and infrastructure. |