2019年全球金融中心指数报告第26期2019958页

1、TheGlobalFinancialCentresIndex26September2019FinancialCentreFutures2|TheGlobalFinancialCentresIndex26InMarch2007,Z/YenandtheCityOfLondonreleasedthefirsteditionoftheGFCI,whichcontinuestoprovideevaluationsofcompetitivenessandrankingsforthemajorfinancialcentresaroundtheworld.Wearepleasedtopresentthetwenty-sixtheditionoftheGlobalFinancialCentresIndex(GFCI26).InJuly2016,Z/YenandtheChinaDevelopmentInstitute(CDI)inShenzhenestablishedastrategicpartnershipforresearchintofinancialcentres.Wecontinueourcol。

2、laborationinproducingtheGFCI.TheGFCIisupdatedeveryMarchandSeptemberandreceivesconsiderableattentionfromtheglobalfinancialcommunity.Theindexservesasavaluablereferenceforpolicyandinvestmentdecisions.Z/YenistheCityofLondon'sleadingcommercialthink-tank.Z/Yenwasfoundedin1994topromotesocietaladvancethroughbetterfinanceandtechnology.Z/Yenhasbuiltitspracticearoundacoreofhigh-poweredprojectmanagers,supportedbyexperiencedtechnicalspecialistssothatclientsgetexpertisetheyneed,ratherthanjustresourcesavailabl。

3、e.ThefirmisheadquarteredinLondon,butZ/Yeniscommittedtothe‘virtualoffice’conceptandisanintenseuseroftechnologyinordertoimproveflexibilityandbenefitstaff.TheCDIisaleadingnationalthink-tankthatdevelopssolutionstopublicpolicychallengesthroughbroad-scopeandin-depthresearchtohelpadvanceChina’sreformandopening-uptoworldmarkets.TheCDIhasbeenworkingonthepromotionanddevelopmentofChina’sfinancialsystemsinceitsestablishment30yearsago.Basedonrigorousresearchandobjectiveanalysis,CDIiscommittedtoprovidinginnov。

4、ativeandpragmaticreportsforgovernmentsatdifferentlevelsinChinaandcorporationsathomeandabroad.Theauthorsofthisreport,MarkYeandleandMikeWardle,wouldliketothankBikashKharel,MichaelMainelli,CarolFeng,PengYu,andtherestoftheGFCIteamfortheircontributionswithresearch,modelling,andideas.TheGlobalFinancialCentresIndex26|1ForewordFinancialcentresarekeytosustaineconomicgrowth,astheyprovidetheinfrastructureforinvestmentandsavingsthatdrivesentrepreneurialendeavours.Theirprimepurposeistomeetgrowingglobalfundin。

5、gneeds,andtheseareexpectedtobeparticularlyhighforthenexttentotwentyyears.Inaworldconfrontedwithcomplexissues-includingtechnologicaldisruption,climatechange,ageingpopulationsandsocialissues-accesstomarketfinancing,acceleratedmarketopeningandthecompetitivenessofthefinancialcentreshavebecomemajornewchallenges,forthesatisfactionofeconomicandsocialneeds.Thecollectionofdataonthedifferentfinancialcentresisthereforeofutmostimportanceandshouldprovideasobjectiveananalysisaspossible.Inthiscontext,theParisF。

6、inancialCentrestrivestodevelopafinancialindustrythatservessocietyandcontributestoarealandsustainableeconomy.Tothisaim,itintendstocapitaliseonitsstrongassets,whichalloweditsmovinguptenplacesintheGFCISeptemberedition.Indeed,Parisistheonly‘globalcity’intheEU,onaparwithLondon,andtheleadingfinancialcentreintheEU27.Italsobenefitsfromacompleteecosystem,includingclients,talentsandqualityinfrastructures,aswellasfromaregulationrecognisedatinternationallevelandaqualitydialoguebetweenregulatorsandmarketpart。

7、icipants.Inaddition,theParisFinancialCentrehasbenefitted,sincetheelectionofPresidentMacron,fromastronginvolvementoftheFrenchpublicauthoritiestoconsolidateitspositionasaleadingfinancialcentre.Andwhathasbeenannouncedhasbeenimplemented.Theflexibilityoflabourlaw,taxation-inparticularinrelationtoimpatriates-thecostoflabourandinfrastructures-e.g.theinternationalschoolingoffer-haveallbeensignificantlyimproved.Today,theParisFinancialCentreisunfoldinganewstrategytoconsolidateitspositionasfinancialcentreo。

8、fthefutureinEurope,basedonthreemainpriorities:•afully-fledgedfintechecosystem-withstrivingcompanies,alargetalentpool,asignificantnumberofincubators,andthesupportofFrenchauthoritiesandregulators;•sustainableandenvironmentalfinance-Parisistheworldleaderingreenbondissuesandadrivingforceinthetransformationtowardsalow-carboneconomy;•infrastructurefinancing.ItalsointendstoincreaseitscontributionatEuropeanandinternationallevel.AugustinRomanetChairmanParisEUROPLACE2|TheGlobalFinancialCentresIndex26GFCI2。

9、6SummaryAndHeadlinesOverview•Weresearched114centresforthiseditionoftheGlobalFinancialCentresIndex(GFCI26).Thenumberoffinancialcentresinthemainindexhasincreasedfrom102to104withtheadditionofSantiagoandNanjing.Therearetenassociatecentresawaitingpotentialinclusioninthemainindex.•Performanceacrosstheindexshowedslightlyreducedconfidence,withtheoverallratingsfallingaround2.5%fromGFCI25.Thirty-oneofthe104centresfellintheratings,includingallofthetopfivecentres.Twelvecentresrose10ormoreplacesintherankings。

10、andtenfell10ormoreplaces.•SevenofthetoptenplacesintheindexarenowtakenbyAsia/Pacificcentres,continuingtheregion’sstrongperformanceoverrecentyears.•Overall,tradewars,geopoliticalunrest,andBrexitareintroducingsignificantadjustmentstomedium-termperceptions.FinTechIndex•Forthefirsttime,wehavedevelopedaseparateindexrankingfinancialcentresascompetitiveplacesforFinTech.•BeijingandShanghaileadtheFinTechrankings,andfiveofthetopsevencentresforFinTechareChinese.•NewYork,London,Singapore,SanFrancisco,andChica。