HK named top financial centre; Singapore keeps No. 4 slot
Published on Oct 31, 2012 4:25 PM
LONDON (REUTERS) - Hong Kong was named the world's top financial centre for the second year running by the World Economic Forum (WEF), thanks to the strength of its business environment, infrastructure and a favourable tax regime.
Singapore retained its spot at No. 4, helped by the strength of its financial system, currency and healthy investment climate.
The WEF's annual Financial Development Report considered a wide range of factors and underscored the rise of Asian trading centres and the influence of China as the world's second-largest economy.
Rival surveys based purely on the total value of transactions typically put New York or London in top place.
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