Asset hub push lifts Taipei's global financial standing: Stock exchange

Taipei, Sept. 16 (CNA) Taipei has climbed to 42nd place in a global ranking of financial centers released Wednesday, up from 73rd two years ago, a rise the Taiwan Stock Exchange Corporation (TWSE) attributed to the government's push to develop Taiwan into an Asian asset management hub.

The 40th Global Financial Centres Index placed Taipei 42nd among 139 global financial centers worldwide.

The index assessed financial centers on key policy priorities for the next five years.

The latest result continued Taipei's upward trend, from 73rd in September 2024 to 70th in March 2025, 55th in September 2025 and 51st in March 2026 in the twice-yearly index compiled by the China Development Institute in Shenzhen and Z/Yen Partners in London.

In a news release Wednesday, the TWSE said the latest ranking reflected the rapid transformation of Taiwan's financial market since the Asian Asset Management Center (AAMC) initiative was launched two years ago.

"The improvement reflects growing international recognition of Taiwan's efforts to open its financial market, promote regulatory innovation, and strengthen global connectivity," the TWSE said.

Since the launch of the AAMC initiative, the Financial Supervisory Commission has sought to expand wealth management through deregulation, new business lines, pilot programs and cross-border cooperation, according to the TWSE.

Financial institutions have also increased their investment in products, services and talent, helping to strengthen Taiwan's asset management ecosystem, it noted.

Internationally, New York topped the index, followed by London, Hong Kong and Singapore. Shanghai, Tokyo, Seoul, Shenzhen, Dubai and Zurich rounded out the top 10, according to the report.