The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul

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The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul

30th October | Hong Kong

Z/Yen has released the 2025 Global Financial Centres Index (GFCI 38th Edition), providing evaluations of future competitiveness and rankings of 120 financial centres around the world.  The top financial centre is New York.  The 2nd ranked financial centre is London.  The 3rd ranked financial centre is Hong Kong.  The top 5 financial centres – New York, London, Hong Kong, Singapore, San Francisco.  The top 10 financial centres – New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul.  4 of the top 10 are United States cities – New York, San Francisco, Chicago, Los Angeles.  3 of the top 10 are China cities – Hong Kong, Shanghai, Shenzhen.  1 of the top 10 is European city – London. 5 of the top 10 are in Asia-Pacific – Hong Kong, Singapore, Shanghai, Shenzhen, Seoul.  Top financial centre in Asia-Pacific (APAC) is Hong Kong.  The top 10 financial centres in APAC – Hong Kong, Singapore, Shanghai, Shenzhen, Seoul, Tokyo, Beijing, Sydney, Melbourne, Busan.  The top 10 financial centres in Europe – London, Frankfurt, Geneva, Zurich, Paris, Luxembourg, Dublin, Amsterdam, Lugano, Jersey.  The top 10 financial centres in North America – New York, San Francisco, Chicago, Los Angeles, Washington DC, Boston, Toronto, Montreal, Miami, Minneapolis / St Paul.  The top 10 financial centres in Middle East & Africa – Dubai, Abu Dhabi, Mauritius, Casablanca, Doha, Kigali, Riyadh, Bahrain, Tel Aviv, Kuwait City.  See below for key findings & summary | View report here

• The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul
• The 2025 Global Financial Centres Index 38th Edition Full Ranking
• 2025 Top Financial Centres in the World

“ The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul “

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The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul

Z/Yen has released the 2025 Global Financial Centres Index (GFCI 38th Edition), providing evaluations of future competitiveness and rankings of 120 financial centres around the world.  See below for key findings & summary | View report here

• The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul
• The 2025 Global Financial Centres Index 38th Edition Full Ranking
• 2025 Top Financial Centres in the World

The 2025 Global Financial Centres Index 38th Edition

Summary

• The top financial centre is New York
• The 2nd ranked financial centre is London
• The 3rd ranked financial centre is Hong Kong
• The top 5 financial centres – New York, London, Hong Kong, Singapore, San Francisco
• The top 10 financial centres – New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul
• 4 of the top 10 are United States cities – New York, San Francisco, Chicago, Los Angeles
• 3 of the top 10 are China cities – Hong Kong, Shanghai, Shenzhen
• 1 of the top 10 is European city – London
• 5 of the top 10 are in Asia-Pacific – Hong Kong, Singapore, Shanghai, Shenzhen, Seoul
• Top financial centre in Asia-Pacific (APAC) is Hong Kong
• The top 10 financial centres in APAC – Hong Kong, Singapore, Shanghai, Shenzhen, Seoul, Tokyo, Beijing, Sydney, Melbourne, Busan
• The top 10 financial centres in Europe – London, Frankfurt, Geneva, Zurich, Paris, Luxembourg, Dublin, Amsterdam, Lugano, Jersey
• The top 10 financial centres in North America – New York, San Francisco, Chicago, Los Angeles, Washington DC, Boston, Toronto, Montreal, Miami, Minneapolis / St Paul
• The top 10 financial centres in Middle East & Africa – Dubai, Abu Dhabi, Mauritius, Casablanca, Doha, Kigali, Riyadh, Bahrain, Tel Aviv, Kuwait City

1) Top 20 Financial Centres

1. New York
2. London
3. Hong Kong
4. Singapore
5. San Francisco
6. Chicago
7. Los Angeles
8. Shanghai
9. Shenzhen
10. Seoul
11. Dubai
12. Frankfurt
13. Washington DC
14. Geneva
15. Tokyo
16. Zurich
17. Boston
18. Paris
19. Luxembourg
20. Dublin

2) Ranking by Industry Sector

• Top 10 Banking Centres: New York, London, Hong Kong, Shanghai, Shenzhen, Singapore, San Francisco, Los Angeles, Seoul, Washington DC
• Top 10 Investment Management Centres: New York, London, Hong Kong, Los Angeles, Shenzhen, Geneva, Singapore, Chicago, Shanghai, Frankfurt
• Top 10 Trading Centres: New York, Singapore, London, Shanghai, Dubai, Seoul, Chicago, Hong Kong, Tokyo, San Francisco
• Top 10 Insurance Centres: Hong Kong, London, New York, Shenzhen, Shanghai, Singapore, Dublin, San Francisco, Frankfurt, Geneva
• Top 10 Finance: New York, London, Hong Kong, Shanghai, Shenzhen, Singapore, Geneva, Seoul, Tokyo, Los Angeles
• Top 10 Fintech: New York, Singapore, London, Dubai, Hong Kong, San Francisco, Seoul, Shanghai, Chicago, Luxembourg
• Top 10 Govt & Regulatory: New York, London, Singapore, Seoul, Shanghai, Dubai, Hong Kong, San Francisco, Tokyo, Frankfurt
• Top 10 Professional Services: Singapore, London, New York, Zurich, Luxembourg, San Francisco, Seoul, Dubai, Chicago, Hong Kong

3) Ranking by Area Of Competitiveness

• Top 5 Business Environment – Hong Kong, Singapore, New York, London, Los Angeles
• Top 5 Human Capital – New York, Hong Kong, London, Singapore, Los Angeles
• Top 5 Infrastructure – Hong Kong, New York, London, Singapore, Paris
• Top 5 Financial Sector Development – New York, London, Hong Kong, Singapore, Shenzhen
• Top 5 Reputational & General – Hong Kong, New York, Singapore, London, Seoul

4) Top 15 Centres to Become More Significant in the 2 to 3 Years

1. Dubai 
2. Singapore
3. Seoul
4. Riyadh
5. Hong Kong
6. Abu Dhabi
7. Kigali
8. Mauritius
9. Taipei
10. Shanghai
11. GIFT City
12. London
13. Casablanca
14. Labuan
15. Ho Chi Minh City

5) 2025 Top Global Financial Centres Ranking

6) Top 15 Financial Centres – Asia-Pacific

7) Top 15 Financial Centres – Western Europe

8) Top 10 Financial Centres – North America

9) Top 10 Financial Centres – Middle East & Africa

The Global Financial Centres Index 38

The thirty-eighth edition of the Global Financial Centres Index (GFCI 38) was published on 25 September 2025. GFCI 38 provides evaluations of future competitiveness and rankings for 120 financial centres around the world. The GFCI serves as a valuable reference for policy and investment decision-makers.  China Development Institute (CDI) in Shenzhen and Z/Yen Partners in London collaborate in producing the GFCI. The GFCI is updated and published every March and September, and receives considerable attention from the global financial community.  135 financial centres were researched for GFCI 38 of which 120 are in the main index. The GFCI is compiled using 140 instrumental factors. These quantitative measures are provided by third parties including the World Bank, the OECD, and the United Nations.  The instrumental factors are combined with financial centre assessments provided by respondents to the GFCI online questionnaire. GFCI 38 uses 28,549 assessments from 4,877 respondents.

Z/Yen is the City of London’s leading commercial think-tank, founded in 1994 to promote societal advance through better finance and technology. Z/Yen has built its practice around a core of high- powered project managers, supported by experienced technical specialists so that clients get expertise they need, rather than just resources available.   In March 2007, Z/Yen and the City Of London released the first edition of the GFCI, which continues to provide evaluations of competitiveness and rankings for the major financial centres around the world. We are pleased to present the thirty-fifth edition of the Global Financial Centres Index (GFCI 35).   In July 2016, Z/Yen and the China Development Institute (CDI) in Shenzhen established a strategic partnership for research into financial centres. We continue our collaboration in producing the GFCI. The GFCI is updated every March and September and receives considerable attention from the global financial community. The index serves as a valuable reference for policy and investment decisions.  The China Development Institute (CDI)is a leading national think-tank that develops solutions to public policy challenges through broad-scope and in-depth research to help advance China’s reform and opening-up to world markets. The CDI has been working on the promotion and development of China’s financial system since its establishment in 1989. Based on rigorous research and objective analysis, CDI is committed to providing innovative and pragmatic reports for governments at different levels in China and corporations at home and abroad. 

• The 2025 Global Financial Centres Index 38th Edition: Top 10 Financial Centres are New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, Seoul
• The 2025 Global Financial Centres Index 38th Edition Full Ranking
• 2025 Top Financial Centres in the World

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