Hong Kong is No1 financial centre, boosting Shenzhen economy

In the past, Hong Kong's status as a financial centre always fell behind New York, London or Tokyo, but now it ranked top thanks to the geographic advantage of being close to mainland China.

City leapfrogs US and Britain to head the World Economic Forum rankings
Hong Kong has leapfrogged the United States and Britain to top the World Economic Forum's (WEF) Financial Development Index for the first time, after coming fourth last year.

Hong Kong took the No1 spot ahead of a list of 60 countries.

Hong Kong is the first time to be elected as an Asian financial center and top spot.

There is an increasing trend where we see people moving to Hong Kong because of the low tax rate,

Hong Kong performed well in capital, business environment and banking financial services, as well as initial public offerings industries.

In fact many industries developed well due to the adjacent of Hong Kong geography advantage. Foreign trade is booming in Shenzhen and e-business is also emerging now in Shenzhen, which can be partly attributed to Hong Kong contribution.

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