Singapore fourth in Financial Development Index

Guess which topped the index, overtaking the US and the UK.

A report by the Information Services Department of Hong Kong said, “Hong Kong has topped the World Economic Forum’s Financial Development Index for the first time, up from fourth in 2010.”

Singapore ranks fourth and Mainland China ranks 19th, according to the WEF Financial Development Index.

The study ranks 60 of the world’s leading financial systems and capital markets, analysing the drivers of financial system development that support economic growth.

According to the Hong Kong Information Services Department, the seven pillars assessed are institutional environment, business environment, financial stability, banking financial services, non-banking financial services, financial markets and financial access.

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