Shanghai has risen by two spots in a key ranking of the world’s leading centres for the global asset management sector.
On 29 August the China-Europe Lujiazui International Financial Research Institute (中欧陆家嘴国际金融研究院) released the “2022 Global Asset Management Centre Assessment Index Report” (2022全球资产管理中心评价指数报告).
New York took first place on the list, followed by London in second place and Boston in third. Singapore came in fourth place, while Hong Kong rounded out the list of the world’s top five global asset management centres.
Shanghai ascended two spots compared to last year’s list to tie for sixth place with Chicago, while Paris, Toronto and Los Angeles filled out the remainder of the top ten.
The Report said that Shanghai’s rise on the list was an “objective reflection of the stable foundations for the development of Shanghai as an international financial centre”, despite the impacts of a renewed round of Covid-related lockdowns in the first half of 2022.
“The transformation of the Chinese economy and the ongoing advance of financial reform and opening is the foundation for steady growth in Shanghai’s base assets,” said Zhao Xinge (赵欣舸), deputy head of the China-Europe Lujiazui International Financial Research Institute. “Ongoing net inflows of funds have enabled the scale of Shanghai’s asset management to achieve leading increases.”