The latest Global Financial Centers Index came out on Tuesday. In addition to surveying over 2,000 global financiers, the index also draws its ranking based on data from the World Bank, the United Nations and the OECD. London is ranked as number one for another year, and China has four cities in the top 20. These include three mainland cities – Shanghai, Beijing and Shenzhen – ranking 6th, 11th and 18th respectively. The Lord Mayor of the City of London, Charles Bowman, spoke to CGTN about London’s strong financial capabilities and China's financial reforms. 

When asked about what impact Brexit could bring to London’s status as the world's top financial center, the Lord Mayor said that they are confident that the city will remain prominent as a hub for global finance well into the future. But he added that they need to have the right deal from Brexit.

“We’re working very closely with our stakeholders and the government to promote and set up the proposals for what we believe is the right deal that covers the transition, which we just secured. Talent, continued access to talent and trade, very importantly a pragmatic, practical but ambitious free trade agreement that’s based on mutual access and regulatory trade alignment.” The Lord Mayor said. 

The Lord Mayor also shared his thoughts on the three Chinese mainland cities in the top 20. 

“I think they are wonderful cities, perhaps have different characteristics and they are investing in themselves very effectively. It is forty years since the reform agenda started and we welcome it.”  The Lord Mayor said, and he continued that he felt encouraged about Premier Li Keqiang’s recent remarks that foreign and domestic firms will be treated equally in China.

The Lord Mayor also touched on the rising competitiveness from American cities such as San Francisco, Boston, Chicago and Los Angeles. These cities jumped in ranks over five places compared to a year ago. While the Lord Mayor is not concerned with other cities topping London’s rank, he also said, “in financial services, during this immediate moment in time, we strongly believe that collaboration, as we progress forward, is key and we will wait and see how their investment in the USA and other countries plays through.”