Hong Kong Named World’s Number One Financial Center

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Dec. 15 – Hong Kong has overtaken London and New York to claim the top spot in the 2011 World Economic Forum Financial Development Index, published yesterday, making this the first year an Asian city has topped the rankings.

Hong Kong climbed from fourth to first place in 2011, pushing New York to second place, London to third and Singapore to fourth place.

The World Economic Forum, a Swiss non-profit best known for its annual meeting in Davos, rates 60 countries and regions in its Financial Development Index based on several financial indicators, including financial access, business environment, banking and financial services, transparency, institutional environment, non-banking financial services and financial markets.

The full report can be accessed here.

Dezan Shira & Associates has provided business advisory, corporate establishment, tax, accounting, payroll, due diligence and audit services in Hong Kong since 1992. For more information, please contact hongkong@dezshira.com or visit www.dezshira.com.

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