FX.co ★ World’s 5 leading financial cities
World’s 5 leading financial cities
New York, US
New York is the global financial center of the United States and the world. In 2008, the city’s financial firms controlled 40% of the global capital. Major financial corporations such as Citigroup, J.P. Morgan Chase & Co., American International Group, Goldman Sachs Group, Morgan Stanley, and Merrill Lynch have chosen New York from other megacities. Presently, New York’s financial industry is concentrated on Wall Street in Lower Manhattan.
London, UK
London is a key economic and financial center in the UK and Europe. It is one of the megacities competing against New York for being called the leading financial hub. London Stock Exchange is the heart of the global currency market. Currently, the situation is complicated due to the Brexit saga turmoil. The UK’s finance industry faces challenges amid possible no-deal Brexit which can seriously hurt business, experts warn.
Hong Kong, China
Hong Kong’s economy is based on the free market, low taxation, and positive non-interventionism. The city is an offshore territory free from value added tax or its equivalents. It is a free port without any customs duties on commodity imports.
Singapore
Singapore is a highly developed country based on the market economy and low taxation. Transnational corporations play a key role in the country's economy. Singapore attracts investors from all over the world with its low tax rates. There are five types of taxes in the country including income and payroll tax.
Shanghai, China
Shanghai is China’s largest financial and trading center. The Shanghai Stock Exchange was established in 1990 and became the first stock market in mainland China. Currently, it is widely known as a reliable exchange platform. Meanwhile, the Shanghai Futures Exchange has an honorable place among the world’s leading commodity markets. It is considered one of the largest regarding the volume of trading futures on natural rubber and copper. The Shanghai Gold Exchange is one of the Chinese leading precious metal traders.
