Singapore replaces Hong Kong as Asia’s top finance centre | Daily Express Online - Sabah's Leading News Portal

SINGAPORE: . Singapore jumped three places to third in the twice-a-year Global Financial Centres Index which assesses 119 cities around the world and was published late Thursday. Hong Kong has adhered to a version of China’s strict zero-Covid rules throughout the pandemic, battering the economy and deepening a brain drain as rival business hubs reopen.The city still mandates three days of hotel quarantine for all international arrivals while its border with the Chinese mainland is mostly closed.

In a 600-word statement responding to the latest GFCI ranking, Hong Kong’s government focused on the city scoring a higher points rating than the year before.“We will continue to listen to views and be bold in taking forward reforms to consolidate and strengthen Hong Kong’s capital market and our role as an international financial centre,” the government said. The statement did not mention the coronavirus or the ongoing pandemic controls.

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