London-based think tank Z/Yen Group and the China Development Institute in Shenzhen published the 31st edition of the Global Financial Centers Index (GFCI 31) last month. Based on quantitative measures provided by third parties such as the World Bank and the Organization for Economic Cooperation and Development, a total of 119 cities around the world made it to the list this time due to their competitiveness in the business environment, human capital, infrastructure, financial sector development and city reputation concerning investment.

Similar to the results in the previous edition, the index is led by New York, London, and Hong Kong, with Beijing remaining in the eighth position globally. Shanghai moved up two rank places to fourth and Shenzhen roses from the 16th to the tenth.

Other Chinese cities in the index have also demonstrated strong performance. For example, Hangzhou and Dalian jump nearly 20 places into the top 100 due to their strength in Fintech. At the same time, other domestic financial hubs, such as Guangzhou, Chengdu, Qingdao, Tianjin, and Nanjing, saw stable performance.

"There is restored confidence in the economic strength of the Asia/Pacific region and trade performance," said the GFCI 31 Report. Here, we look at the top 10 Chinese cities in the index.

10. North China's Tianjin Municipality

Tianjin moved up seven positions and ranked 105th in the GFCI 31 with a rating score of 541. According to official statistics, with more than 133 cargo routes, the port in the Tianjin Municipality has extended trade ties with more than 800 ports in over 200 countries and regions.