There is a very accurate idiom in Chinese that can be translated as “Dripping water wears away stone,” meaning that perseverance brings success. That is indeed the case in Hong Kong, one of the world’s most important financial centers, that year after year not only maintains its position but enhances it.

Indeed, Hong Kong again ranked third in the Global Financial Centres Index (GFCI) Report, published on Thursday by Z/Yen from the United Kingdom and the China Development Institute from Shenzhen, retaining its place from the previous issues in September 2024, March 2025, and September 2025, which is indeed great news for the city.

By ranking high again Hong Kong shows that its resilience, competitiveness, and global appeal are stronger than ever.

Furthermore, not only does Hong Kong retain third position ahead of Singapore in the global ranking, but, in fintech, Hong Kong is ranked in the top position, followed by Shenzhen, New York, Singapore, and London, which is also great news for the city. Hong Kong’s overall score has risen by one point, reaching 765, thus retaining its status as Asia’s top financial center.

The GFCI is evaluated based on five categories — human capital, business environment, financial-sector development, infrastructure, and reputation — as well as an online survey conducted among industry figures from around the world.

Once again, this reaffirmation of Hong Kong’s financial prowess underscores the city’s resilience, competitiveness, and enduring appeal to international investors. It also underscores Hong Kong’s strength in innovation and new technologies.

The GFCI result arrives at a crucial moment. Over the past two years, questions have circulated over whether Hong Kong’s time as a global leading financial hub has passed. The new ranking answers clearly: Not only does the city remain robust as a financing hub, but it is also diversifying into new roles. For example, with a forward-looking approach, Hong Kong has put an increasing emphasis on innovation, talent development, and sustainable finance to further strengthen its position.

The city has emerged as an innovation hub as well, as was demonstrated by the Global Innovation Index 2025, in which the Shenzhen-Hong Kong-Guangzhou cluster ranked first globally, overtaking the Tokyo-Yokohama cluster.

Hong Kong is also becoming an artificial-intelligence and decentralized-finance powerhouse. For example, Hong Kong’s AI market is projected to expand to $3.43 billion by 2030 from about $770 million in 2024 — an annual growth rate of 28.27 percent. The city’s commitment to innovation is helping make it an AI powerhouse. The synergy between Hong Kong and the Chinese mainland, together with the central government’s support and closer collaboration within the Guangdong-Hong Kong-Macao Greater Bay Area, highlights the region’s potential for pioneering advancements in many areas.

By combining its established role as a financial powerhouse with its growing strengths in innovation and technology, Hong Kong is building a more diversified, future-proof economy. The new rankings once again invalidate all the doomsaying about Hong Kong

In addition to this, Hong Kong’s robust rule of law and sound legal system are widely recognized in the international community. The city was ranked 24th out of 143 jurisdictions surveyed in the 2025 World Justice Project Rule of Law Index.

Hong Kong’s role depends on its integration and collaboration with the mainland. A few weeks ago, Chief Executive John Lee Ka-chiu revealed that he will personally lead a task force to formulate Hong Kong’s first five-year development blueprint aligned with the nation’s 15th Five-Year Plan (2026–30). This initiative marks a strategic moment in Hong Kong’s evolution — one that reinforces its role as a global financial center, innovation powerhouse, and resilient business hub capable of taking advantage of both domestic and international opportunities.

Hong Kong’s status as one of the world’s foremost financial centers owes much to its superconnector role, which is expected to be consolidated through further integration into the Guangdong-Hong Kong-Macao Greater Bay Area and playing a proactive role in the country’s 15th Five-Year Plan. The city’s superconnector role will further benefit from national strategies, including the internationalization of the yuan.

Resilience also plays a significant role in Hong Kong’s strength, since the resilience of not only Hong Kong’s financial system but also of every Hong Kong person is key to its past, present and future success. Last year’s tragic Tai Po fire deeply affected the community and tested the city’s emergency response, governance structures, and collective spirit. The aftermath relief and rehabilitation operations showed Hong Kong at its most mature and united. Authorities acted swiftly; support mechanisms were mobilized; independent investigations were launched; and the wider public responded with solidarity rather than division. Far from undermining confidence, the episode demonstrated that Hong Kong possesses the institutional capacity, social cohesion and civic responsibility needed to confront adversity, learn from it and emerge stronger. This ability to respond to crisis with order, accountability and compassion is an often-overlooked but essential ingredient of Hong Kong’s long-term competitiveness and stability. The long-term development of Hong Kong within the Greater Bay Area blueprint as well as within the national development strategy requires a multifaceted approach. Its future as a financial titan depends on its ability to adapt and thrive, as well as its ability to promote innovation and technology.

To sum up, the latest GFCI ranking is not just a measure of where Hong Kong stands — it is a reminder of where it is heading. By combining its established role as a financial powerhouse with its growing strengths in innovation and technology, Hong Kong is building a more diversified, future-proof economy. The new rankings once again invalidate all the doomsaying about Hong Kong.

The author is a fintech adviser, a researcher and a former business analyst for a Hong Kong publicly listed company.

The views do not necessarily reflect those of China Daily.