ABSTRACT
Hong Kong is a financial center with global competitiveness, best illustrated by “Nylonkong” (“New York, London, Hong Kong”) – a phrase used in a TIME magazine article published in 2008 to describe the three most important cities in the world. According to the Global Financial Centers Index (GFCI) compiled by the London-based corporation Z/Yen, Hong Kong has been ranked third in all of the semi-annual assessments since 2007, steadily raising its score against London and New York (see Figure 1.1). Similarly, the Xinhua-Dow Jones IFC Development Index ranked Hong Kong third to fifth during 2010-14. The Banker also indicated Hong Kong rose from being sixth in 2010 to fourth in 2013-14 (see Table 1.1).
