China leaps forward in WEF 2010 Financial Development Index

19:43, November 04, 2010      

Email | Print | Subscribe | Comments | Forum 

The World Economic Forum (WEF) issued its 2010 Financial Development Report on Thursday, showing that China has advanced four places in the index, climbing up from 26th in 2009 to 22nd in 2010, among the 57 economies listed.

The advance, said the WEF, was bolstered by "improvements in non-banking financial services" and "a notable rise in its standing in the FDI," adding that a highly stable currency and low risk of sovereign debt crisis also contributed to the stability of China's overall financial system.

As to China's nonbanking financial services, the WEF noted vigorous activities across insurance (ranking 5th), IPO (ranking 1st) and Mergers And Acquisitions (ranking 6th), despite that securitization activity (ranking 45th) still "represents one area for further development."

The index indicates Asia economies continue to show strength in financial development, in spite of the Financial Crisis. China's Hong Kong SAR has jumped 2 places from the 5th place last year to the 3rd, while Singapore remained the 4th.

The United States reclaims top spot in index, though it was said to have "no change in absolute performance," followed by the United Kingdom, which falls from the top to the 2nd.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion