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1、Financial Centre Futures The Global Financial Centres Index 38 September 2025 In March 2007,Z/Yen and the City Of London released the first edition of the GFCI,which continues to provide evaluations of competitiveness and rankings for the major financial centres around the world.We are pleased to pr

2、esent the thirty-eighth edition of the Global Financial Centres Index(GFCI 38).In July 2016,Z/Yen and the China Development Institute(CDI)in Shenzhen established a strategic partnership for research into financial centres.We continue our collaboration in producing the GFCI.The GFCI is updated every

3、March and September and receives considerable attention from the global financial community.The index serves as a valuable reference for policy and investment decisions.Z/Yen is the City of Londons leading commercial think-tank,founded in 1994 to promote societal advance through better finance and t

4、echnology.Z/Yen has built its practice around a core of high-powered project managers,supported by experienced technical specialists so that clients get expertise they need,rather than just resources available.The CDI is a leading national think-tank that develops solutions to public policy challeng

5、es through broad-scope and in-depth research to help advance Chinas reform and opening-up to world markets.The CDI has been working on the promotion and development of Chinas financial system since its establishment in 1989.Based on rigorous research and objective analysis,CDI is committed to provid

6、ing innovative and pragmatic reports for governments at different levels in China and corporations at home and abroad.The authors of this report,Mike Wardle and Professor Michael Mainelli,would like to thank Bikash Kharel,Sasha Davis,Carol Feng,Peng Yu,and the rest of the GFCI team for their contrib