Which city is the world's leading financial center?

According to a survey by the City of London Corporation, in 2023, London will still be the world's leading financial center, while New York will fall to second place.

The British capital remains the world's leading financial center. (Source: Newslocker)

The survey found that the business challenges posed by Brexit and the Covid-19 pandemic in London have been resolved, while efficiency in regulatory policy, immigration and the return of workers to the office have all improved the city’s business ecosystem.

In a statement, the City of London said that while London saw a decline in capital markets activity and assets under management, the city still ranked first for both sustainable finance and skilled labour.

New York leads in technology and broad financial activity, but the city's ranking fell this year due to the impact of high inflation and rising interest rates.

In recent times, the UK has carried out a series of financial reforms to make listing shares in London more attractive and take measures to increase market liquidity.

The reforms helped London take the top spot in the survey, with an overall competitiveness score of 59, down from 60 last year due to a decline in assets under management and the number of foreign-listed stocks, the City of London said. New York fell three points to 57.

Previously, in September 2023, the Global Financial Centers Index (GFCI) ranked New York City, USA, as the world's leading financial center (while London followed closely, ranking second).

Source: https://baoquocte.vn/thanh-pho-nao-la-trung-tam-tai-chinh-hang-dau-the-gioi-258604.html