Shanghai counts among the world's top ten financial centers for the first time, while London and New York are still the world's leading cities for banking and other finial services, according the latest Global Financial Centers Index (GFCI).
The eastern China metropolitan city has moved up five places to rank the 6th in the GFCI, the biannual ranking of 75 world cities by London-based think-tank Z/Yen Group.
The Shanghai stock exchange lists almost 900 companies and is also among the world's ten largest stock markets.
Recruiters report that hiring is aggressive in Shanghai, with vacancies sprouting at HSBC, Citibank, Standard Chartered and Australian investment banking giant ANZ.
Hong Kong leads four Asian cities to rank 3rd in the GFCI top ten spots, and has earned 760 points out of a possible 1,000 in the index's ranking system.
Only 10 points shy of London (772) and New York (770), Hong Kong made it a global financial hub alongside the top two cites.
