SHENZHEN ranked 22nd in the latest ratings of global financial centers, according to the Global Financial Centers Index (GFCI), a report released by the Z/Yen Group on Monday.

    The city is the third Chinese mainland city on the list, following Shanghai and Beijing, and was followed by Guangzhou, Qingdao and Dalian.

    Shanghai ranked 16th and advanced five places from last year, with 693 points in the 1,000-point rating system.

    London, New York, Singapore, Hong Kong and Tokyo remained the top five leading global financial centers.

    Shanghai and Beijing were among the top 20 in the rankings, which is released every six months.

    The GFCI provides profiles, ratings and rankings for 86 financial centers, drawing on two separate sources of data. It uses 24,495 financial center assessments completed by 2,520 financial services professionals.

    The report showed that Shenzhen, which has advantages in operating costs, economic potential and investment environment, is narrowing the gap with the world’s top 20 financial centers.

    The GFCI was first produced by the Z/Yen Group in 2005. It aims to examine the major financial centers’ global competitiveness. The index is calculated every three months and formally published every six months.

    (Han Ximin)