全球金融中心指数37

March 2025 Financial Centre Futures In March 2007, Z/Yen and the City Of London released the first edition of the GFCI, which continues toprovide evaluations of competitiveness and rankings for the major financial centres around the world.We are pleased to present the thirty-seventh edition of the Global Financial Centres Index (GFCI 37). In July 2016, Z/Yen and the China Development Institute (CDI) in Shenzhen established a strategicpartnership for research into financial centres. We continue our collaboration in producing the GFCI.The GFCI is updated every March and September and receives considerable attention from the globalfinancial community. The index serves as a valuable reference for policy and investment decisions. Z/Yen is the City of London's leading commercial think-tank, founded in 1994 to promote societaladvance through better finance and technology. Z/Yen has built its practice around a core of high-powered project managers, supported by experienced technical specialists so that clients get expertisethey need, rather than just resources available. The CDI is a leading national think-tank that develops solutions to public policy challenges throughbroad-scope and in-depth research to help advance China’s reform and opening-up to world markets.The CDI has been working on the promotion and development of China’s financial system since itsestablishment in 1989. Based on rigorous research and objective analysis, CDI is committed toproviding innovative and pragmatic reports for governments at different levels in China andcorporations at home and abroad. The authors of this report, Mike Wardle and Professor Michael Mainelli, would like to thank BikashKharel, Sasha Davis, Rafael Kapose, Carol Feng, Peng Yu, and the rest of the GFCI team for theircontributions with research, modelling, and ideas. © Z/Yen Group Limited 2025 Foreword Warm greetings from the Seoul Metropolitan Government. I am Oh Se-hoon, the Mayor of Seoul. First of all, allow me to extend my heartfelt congratulations to the global consulting group Z/Yen on itsrelease of the 37th edition of the Global Financial Centres Index (GFCI). In September 2024, Seoul ranked 11th overall in the 36th edition of the GFCI. In the latest 37th edition,Seoul moved up one spot, entering the top 10–an achievement that reflects the stability andresilience of its financial market. Moreover, Seoul is enhancing both citizen convenience and urban competitiveness through variouscutting-edge fintech services, such as the‘Climate Companion Card’and the‘Wrist Doctor9988’,leveraging its world-class ICT industry. Recently, Seoul announced its private sector-led economic growth strategy called‘KOGA (KOreaGrowth Again)’.We will strive to foster high-tech industries by expanding infrastructure for future-oriented industries and increasing R&D investments, and we will also pursue regulation reform to keeppace with rapid technological advancements. Furthermore, we will aim to promote the integration ofvarious advanced industries such as AI with fintech, through financial innovation, and we will also aimto create a business-friendly financial environment. We look forward to your continued interest and support, as Seoul advances toward becoming a globalfinancial hub, attracting even more international businesses, capital, and talent. Thank you. Oh Se-hoonMayor of Seoul GFCI 37 Summary & Headlines Overview We researched 133 financial centres for this edition of the Global Financial Centres Index (GFCI 37).The number of centres in the main index is 119. Fourteen associate centres are close meeting thecriteria required for inclusion in the index. As in the last edition of the index, there is little change in the ranking of the leading centres, with thetop nine centres remaining unchanged. In the top 20 centres, Amsterdam rose nine places to 18thand Dubai rose four places to 12th position. This continues to suggest no major change in theeconomic outlook across the leading economies in the world, with slow but continued growth andinflation falling. Overall, the rating for almost all centres improved, with the average rating across allcentres up just over 2%, which suggests stronger confidence in the financial sector in this period. Thelargest increase in average ratings was in Eastern Europe & Central Europe, at 2.48% and the lowestwas in North America where average ratings rose by 1.41%. Forty-nine centres rose in the rankings, 18 maintained their position from GFCI 36, and 52 fell. Eightcentres fell 10 or more places, while seven centres rose 10 or more places. The largest improvementswere achieved by Rome, up 19 places, Stockholm, up 16 places, Vienna, up 16 places, and Monaco,up 15 places. It is worth noting that some centres are more sensitive to changes in ratings andinstrumental factor data as discussed in the section on stability on pages 35 and 36 of this report. For this edition of the GFCI, we have researched the key challenges facing internatio