Recent York, London support high spots in world financial centres index

By Huw Jones

LONDON (Reuters) – Recent York without problems kept the head impart in the most trendy World Monetary Centres Index (GFCI), while London held on to second situation as Chinese cities slipped, based solely on the rating printed on Friday.

The index, printed by the Z/Yen Community in partnership with appreciate-tank China Type Institute, will arrive as a aid to London in explicit after it lost fetch admission to to the European Union financial market when Britain performed its lag out of the bloc’s orbit final December.

“The slightly stable performance of Recent York and London suggests that the financial products and services sectors in these cities managed to defend their performance in spite of radical adjustments in working practices throughout the final 18 months,” GFCI stated in an announcement.

Hong Kong and Singapore in third and fourth situation both fell 25 points in the ratings.

“We peep two patterns in the outcomes for GFCI 30 – self belief in the restoration of the North American and Western European economies following the shock of 2020; and a levelling off following the rapid upward push of Asia/Pacific centres and their economic balance in the COVID-19 pandemic,” stated Michael Mainelli, executive chairman of Z/Yen.

“Opponents stays tight. Launch air the head two centres, handiest five points on a 1,000 level scale separate the centres ranked third to eighth.”

Of their peep of fintech centres, Recent York and Shanghai retained first and second positions, with London rising two locations to third situation as Britain makes fintech-friendly insurance policies a priority.

(Graphic: GFCI September 2021 rankings – https://fingfx.thomsonreuters.com/gfx/mkt/dwvkrdllapm/GFCI%20rankings%20in%20September%202021.PNG)

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