Hong Kong is now the world’s leading financial center, according to the World Economic Forum’s Financial Development Index. The Special Administrative Region of China passed both the U.S. and the U.K. to top the index of 60 countries. Hong Kong placed 4th last year.
The seven criteria for the scoring of the index were financial access, business environment, banking and financial services, institutional environment, financial stability, non-banking financial services and banking financial services.
Singapore ranked 4th and China came 19th.
