SHENZHEN ranks No. 18 among the global financial cities, advancing two places, in the 23rd Global Financial Centers Index (GFCI 23) jointly released by Z/Yen Partners and the China Development Institute (CDI) on Monday.

The GFCI rates 96 financial centers in the world by a wide range of indexes, including business environment, human resources, infrastructure, development level and prestige.

Eight cities in China have made it to the list. Shanghai remains in sixth place and Beijing dropped one place to 11th, while Shenzhen, Guangzhou, Qingdao and Chengdu all advanced their positions. Tianjin is a new entrant to the GFCI, ranking 63rd. Dalian continued its decline to the 96th position in the latest rating.

London and New York remain at the top of the rankings and the gap between them in ratings closed to one point on a scale of 1,000.

Hong Kong retains third place. London’s rating rose less than the other four top centers.

There is now less than 50 points between the top five centers.

At a ceremony in Qingdao, Mark Yeandle, director of Z/Yen Partners and the author of the GFCI 23, praised China’s achievement in building financial centers that will bring a bright and broad market with opportunities. China’s global influence will be enhanced with improvement in the competitiveness of its financial centers.

Fan Gang, president of the CDI, said, “Eight mainland financial centers have entered the GFCI and continue to do well. As an economist, I am very proud of the achievements of China’s economy. However, it is crucial to keep a realistic and sober mind amidst the chorus of praise.” (Han Ximin)