Shanghai, a Chinese financial city, has witnessed tremendous economic growth from the year 2000 with a growth rate of 10% for five consecutive years. Fund management and competitive stock share trading plus top-notch IPOs have attracted blue-chip investors. Low taxation on manufacturers has made Asia a major producer and exporter of fast-moving goods as well as electronics and automobiles. The growth of the economy in the Asian continent has given rise to Hong Kong, Singapore, and Shanghai. London and New York have interchangeably held the top position due to the high quality of mergers, investment opportunities and high credit rating of their stocks listed companies. Investors are assured of returns due to stable assets management policies. All the top five cities have an advanced system of payment for goods and services which make commerce and trade very convenient.
It is followed by London at 787, Hong Kong 783, Singapore 772, and Shanghai with 770. According to the most recent of these ratings, New York is the world's top financial center with a rating of 794. The top financial cities in the world are ranked by an institution known as The Global Financial Centers Index (GFCI).
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