You may not be paying much attention to Shanghai, but you may want to start. According to a recent survey by the Global Financial Centers Index, Shanghai is one of the top picks among the world’s cities to be a significant global financial center in the coming years. Other new cities that should be watched are: Qingdao, Shenzhen, Dalian and Beijing. The index is based on statistical data and a poll of financial professionals.
Certainly, London, New York, Hong Kong, Singapore and Tokyo remain as five of the leading centers in the ranking this year. Singapore was 42 points behind New York, and ranked third. Hong Kong ranked fourth. Tokyo was in fifth while Sydney was actually 11th and Melbourne was 24th.