Core Insights - The 38th Global Financial Centre Index (GFCI 38) report was jointly released by Z/Yen Group and the Comprehensive Development Research Institute in Shenzhen, China, ranking 120 financial centers globally, with New York, London, and Hong Kong leading the list [1][5]. Financial Center Rankings - The top ten financial centers remain unchanged from the previous report, indicating a stable competitive landscape. The first tier includes New York, London, Hong Kong, and Singapore, with a scoring gap of only 1 point among them. Singapore saw a significant increase of 13 points, while New York's score decreased by 2 points [6][18]. - The second tier consists of San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, and Seoul, with a nearly 10-point gap from the first tier but only a 1-point difference among themselves, highlighting intense competition within the top ten [6][18]. Regional Performance - Financial centers in the Asia-Pacific region have surpassed those in North America in average scoring, with six centers in the top 15 globally. The average score for Asia-Pacific centers increased by 1.27%, while North America's average score rose by 0.56% [9]. - In mainland China, 12 financial centers made it to the index, with Shanghai (8th), Shenzhen (9th), and Beijing (22nd) being the top three. Notably, Xi'an improved its ranking by 9 places [12][13]. Fintech Rankings - In the fintech sector, Hong Kong, Shenzhen, and New York ranked as the top three financial centers. Hong Kong achieved the highest score for the first time, while Shenzhen reached its best performance historically. Shanghai's fintech ranking improved by 9 places, entering the global top ten [15][17].

Core Viewpoint - Chinese cities continue to perform steadily in the global financial center competition, with three cities entering the top ten, while Hong Kong faces strong challenges from Singapore [3][6]. Financial Center Rankings - The latest Global Financial Centers Index (GFCI 38) ranks the top ten financial centers as follows: New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, and Seoul [3][4]. - The overall average score of global financial centers increased by 0.6% compared to the previous period, indicating stable optimism among financial professionals regarding the development of the financial industry [6]. Performance of Hong Kong and Singapore - Hong Kong has maintained its position as the third global financial center for three consecutive periods, with a recent score increase of 4 points [4][7]. - Singapore's score rose by 13 points, marking a significant improvement and narrowing the gap with the top financial centers [6][7]. Regional Performance - The Asia-Pacific region has six financial centers in the global top 15, with an average score increase of 1.27%, while North America's average score rose by 0.56% [8]. - All Chinese mainland financial centers saw score increases, with Shanghai and Shenzhen ranking 8th and 9th globally, respectively [9][8]. Financial Technology Rankings - Hong Kong ranks first in financial technology, followed by Shenzhen, New York, and Singapore [10][12]. - Shanghai's financial technology ranking improved by 9 positions, placing it among the global top ten [12]. Conclusion - The GFCI report highlights the competitive landscape among financial centers, with significant movements in rankings and scores, particularly in the Asia-Pacific region and within China [6][8].

Group 1 - The title of "Foreign Trade Capital" has shifted to Shenzhen, which is performing exceptionally well in the foreign trade sector, while Shanghai remains unconcerned about this change [1] - Hong Kong ranks higher in the global financial center rankings, which Shanghai finds reasonable due to Hong Kong's established position as a gateway [1] - The title of "Consumer Capital" has temporarily gone to Chongqing, which Shanghai is unwilling to concede, asserting that no inland city can take this title from it [1] Group 2 - Chongqing has a social retail sales total of 830.37 billion yuan, narrowly surpassing Shanghai's 826.04 billion yuan by less than 4 billion yuan, indicating a close competition between the two cities [1]