China’s economic hub Shanghai ranks sixth most competitive financial center worldwide, up from the eighth last year, according to the Xinhua-Dow Jones International Financial Centers Development Index (IFCD Index) issued Friday.
The IFCD Index was jointly launched by CFC Holding Company, Ltd., a subsidiary of Xinhua News Agency, and CME Group Index Services LLC (Dow Jones Indexes).
The index is a ranking of the competitiveness of financial centers around the world on the basis of a comprehensive valuation system combining objective indicators and surveys.
A total of 45 international financial centers have been evaluated on the overall performance of their financial industries and related development environment, with top 10 cities this year being New York, London, Tokyo, Hong Kong, Singapore, Shanghai, Paris, Frankfurt, Sydney, and Amsterdam.
Xinhua