LJZ(SH:600663) Sou Hu Cai Jing·2026-02-10 08:46Core Insights - The report highlights the competitive landscape of global asset management centers in 2025, emphasizing a "one strong, many strong" characteristic, with New York maintaining its top position due to its integrated advantages in capital, underlying assets, and asset management technology [1][17][21]. Group 1: Overall Evaluation - New York ranks first with a score of 97.91, an increase of 2.39 points from 2024, leading in multiple dimensions such as capital sources and underlying assets [24][26]. - Paris rises to second place, benefiting from its leadership in ESG and alternative assets, despite a slight decrease in score [24][26]. - London falls to third place, with a widening gap from New York, reflecting a decline in its competitiveness in talent and tax policies [24][26]. - Boston and Toronto show significant improvements, with Boston rising to fourth and Toronto to seventh, driven by stable capital inflows and strong performance in active management strategies [24][26]. Group 2: Sector Analysis - The report indicates a concentration of capital sources in major U.S. cities, reinforcing the trend of "U.S. stock and bond attraction," while European and Asian markets face pressure [18][32]. - In terms of tax incentives and talent supply, Asian cities show a catching-up trend, with Singapore and Hong Kong making notable gains [35][36]. - The underlying asset quality has improved across most asset management centers, with significant increases in scores for cities like Beijing and Hong Kong [40]. Group 3: Technological Integration - The introduction of asset management technology as a secondary evaluation indicator marks a significant innovation in the report's methodology, allowing for a comprehensive assessment of digital infrastructure and AI investment [19][21]. - New York's technological dominance is evident in smart investment and high-frequency trading, while London excels in cross-border compliance and regulatory technology [19][21]. - Shanghai demonstrates strong performance in AI venture capital and patent output, indicating its potential to catch up in quality and application [19][21]. Group 4: Future Outlook - The global asset management industry is expected to undergo deep restructuring, with geopolitical and macroeconomic factors driving a more multipolar landscape [3][21]. - Cross-border cooperation and regulatory recognition are becoming increasingly important, with a focus on technology, regulation, and capital interaction shaping the future [3][21].