Los Angeles Overtakes Shanghai in World Financial Centers Ranking

(Bloomberg) — The home of Hollywood has overtaken China’s commercial capital in a fresh ranking of the world’s top financial centers.

Los Angeles took sixth spot on the Global Financial Centres Index (GFCI), pushing Shanghai into seventh place. Meanwhile, Chicago and Boston broke into the top 10, edging out Beijing and Shenzhen.

There was no change at the top of the list. Finance powerhouses New York and London remained in the top two spots, while Singapore clung on to the third place that it snatched from Covid-battered Hong Kong last year.