Qingdao Jumps to the 47th in the Latest Ranking of Global Financial Centers Index

Sep 26, 2020

On September 25, the 28th Global Financial Centers Index Report (GFCI 28), jointly compiled by China Development Institute (CDI) and the UK think tank Z/Yen Group, was released simultaneously in Shenzhen, China and Seoul, South Korea. Qingdao performed well, again entering the top 50 in this ranking, ranking 47th, jumping 52 places from the previous period. Chinese inland cities occupy 12 places in the ranking, with Qingdao ranking 6th among the inland cities, behind Shanghai, Beijing, Shenzhen, Guangzhou and Chengdu, ahead of Nanjing, Xi 'an, Tianjin, Hangzhou, Dalian and Wuhan.
GFCI evaluates and ranks the leading financial centers in five aspects: business environment, human capital, infrastructure, level of financial development and reputation, with a total of 111 cities ranked in the list. New York, London, Shanghai, Tokyo, Hong Kong, Singapore, Beijing, San Francisco, Shenzhen and Zurich are the world's top 10 financial centers.
In the special ranking of "15 financial centers that are expected to further increase their influence", Qingdao ranked 3rd after Gujarat International Finance Tec-City (CIFT) in India and the Financial City of Stuttgart in Germany. It ranked first among Chinese inland cities and scored higher than Shanghai, Beijing, Guangzhou, Shenzhen and Chengdu.
The Global Financial Centers Index (GFCI) is the world's most authoritative assessment of the status and competitiveness of international financial centers, which is updated in March and September each year. It has become a "barometer" of the development of financial centers closely watched by the international financial community, providing valuable reference for policy research and investment decision-making.
Since being included in the "Global Financial Centers Index" in March 2016, Qingdao has been ranked among the top 50 global financial centers for eight times.
As the only national comprehensive financial reform pilot zone with wealth management as the theme, Qingdao has provided consistent "wealth power" in supporting the real economy and boosting urban development to a new platform since it was approved in February 2014. The "Fortune Qingdao" city brand has been increasingly popular with expanding influence. Since the beginning of this year, the financial industry of Qingdao has made great efforts to overcome the impact of the epidemic and made active efforts to offer a perfect "semi-annual report". The added value of its financial sector reached RMB 41.73 billion, up by 7.8% year-on-year, 7.7 percentage points higher than GDP growth, ranking first among the top 10 industries of national economy. By the end of June, Qingdao became the first city in the province where both loans and deposits exceeded RMB 2 trillion. At the same time, Qingdao enterprises have gained in Main-Board Market, SMEs Board Market, Sci-Tech innovation board (STAR Market), Growth Enterprise Market, selected layer and overseas market, with the best construction of multi-layer capital market in history.
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