(Yicai) March 21 -- Three Chinese cities, namely Shanghai, Shenzhen, and Hong Kong, have been listed among the world's 10 largest financial centers by UK think tank Z/Yen Group and the China Development Institute.

The top 10 for this year consists of New York, London, Hong Kong, Singapore, San Francisco, Chicago, Los Angeles, Shanghai, Shenzhen, and Seoul in order from one to 10, according to the 37th edition of the Global Financial Centers Index released yesterday.

Hong Kong bagged 760 points this year, up from 749 points last year, moving just two points behind London at 762 and distancing itself from Singapore at 770. Shanghai and Shenzhen scored 744 points and 743 points, up by six and 11 points, respectively. New York had 769 points.

Except for Seoul, which made the top 10 for the first time this year, the remaining nine cities were there also last year. Forty-nine cities climbed the ranking, 18 remained in the same position, and 52 moved down the ranking.

This year's ranking shows a positive outlook for the development of global financial centers, as the overall score increased by 2 points. While the economic outlook for major economies is stable, with a gradual economic expansion and a decrease in inflation, geopolitical conflicts remain the biggest concern for the financial sector.

The performance of financial centers in the Chinese mainland was remarkable, as all 12 of them improved their scores. Shanghai, Shenzhen, Guangzhou, and Chengdu maintained their standings. Hangzhou jumped nine positions thanks to its 22 points added this year, marking the largest rise among Asian financial centers.

Shanghai and Shenzhen ranked among the top 15 in multiple subcategories. Shanghai's financial sector development level was fourth this year.

In the financial technology subcategory, financial centers from China and the United States remained the leaders despite regional diversity becoming more and more evident.

Three cities in the Guangdong-Hong Kong-Macao Greater Bay Area made the top 20 in the fintech subcategory last year, as Shenzhen and Hong Kong ranked third and fourth, respectively, and Guangzhou improved its standing.

Editor: Futura Costaglione