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| No.6 December, 2012 |
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HK tops World Economic Forum's Financial Development Index – again! |
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 With a score of 5.31 (on a scale of 1 to 7), Hong Kong ranks first for the second consecutive year in the “Financial Development Index” released last month by the World Economic Forum (WEF) in its 2012 Financial Development Report.
The Financial Secretary, John C. Tsang, welcomed the WEF's recognition of Hong Kong's leading position among international financial centres. "Hong Kong is highly competitive vis-à-vis most other financial systems in the world, especially in terms of contract enforcement, taxes and the infrastructure of the business environment, as well as the efficiency of banking financial services," Mr Tsang said. "Our strengths in IPO activity, equity market development and commercial access are also well recognised by the WEF."
Mr Tsang said the government would study the report carefully. "We will continue to strengthen Hong Kong in various aspects as a leading financial center and as the Mainland's offshore Renminbi center," he added.
The study ranks the breadth, depth and efficiency of 62 of the world's leading financial systems and capital markets, analysing drivers of financial system development that support economic growth.
The seven pillars assessed are institutional environment, business environment, financial stability, banking financial services, non-banking financial services, financial markets and financial access.
Among the pillars assessed, Hong Kong ranks among the top five in banking financial services, business environment, financial access and financial markets.
2012 Financial Development Report
www.weforum.org/reports/financial-development-report-2012 |
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