Photo: REUTERS file
business

Tokyo slips to 4th place in global financial hub ranking: report

54 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© KYODO

©2020 GPlusMedia Inc.

54 Comments
Login to comment

Interesting to me that Hong Kong can still lose its autonomy, but actually climb in business rankings.

Does that mean that they are doing incredible business regardless? Or is it that all financial centers had an off covid year.

9 ( +10 / -1 )

The companies that commissioned the report sure do not sound impartial.

11 ( +13 / -2 )

Time for the government to do some urging and fast.

5 ( +10 / -5 )

I'm surprised it was in the third place. There is nothing attractive about Tokyo to be a "global financial hub".

13 ( +19 / -6 )

More bad signs for Japan.

I'm sure South Korea will be ready and prepared to take advantage of Japan incompetence, Chinas economic pain inflicted by America.

-2 ( +13 / -15 )

Tokyo has slipped one notch to fourth in the latest ranking of the world's leading financial hubs, with Shanghai now rounding up the top three after New York and London.

All effort to help foreigners to help business in Japan is only a PR rather than an actual integrated policy, final result like show that.

7 ( +10 / -3 )

You want to attract "foreign talent" you are going to have to pay them what the world market pays, you are going to have to give them the authority to make decisions, you are going to have to ensure that they dont get "marked" as targets to blame if any crap goes wrong.......guess it's just going to slip some more!

15 ( +17 / -2 )

Tokyo has slipped one notch to fourth in the latest ranking of the world's leading financial hubs, with Shanghai now rounding up the top three after New York and London, according to a report.

Who cares? Does having a financial hub help the middle class of the country? I don't think so. In fact, I am glad Japan does have a lot so called expats. Most of Whom are overpaid and produce nothing.

-11 ( +6 / -17 )

I'm sure South Korea will be ready and prepared to take advantage of Japan incompetence, Chinas economic pain inflicted by America.

LOL, Seoul didnt make the list.

-5 ( +9 / -14 )

You want to attract "foreign talent" 

No I don't. I want to develop Japanese talent. I saw the so call foreign talent at Lehman and Boeing. I wasn't impressed.

-5 ( +10 / -15 )

Tokyo Stock market just got a yellow flag after the lady week technical problems, I if they get another within next 6 months they'll get decommissioned.

0 ( +1 / -1 )

"You want to attract "foreign talent" ? No I don't. I want to develop Japanese talent. I saw the so call foreign talent at Lehman and Boeing. I wasn't impressed."

Yea, but does Japan have companies like Google, Amazon, Microsoft, and Apple? Nope. All they have are old, dying corporations that are going extinct one after the other.

13 ( +17 / -4 )

No problem, I can help. Whenever you feel ready, give us some money with the obligation to only invest it at the TSE lol

2 ( +3 / -1 )

I read this article in Japanese language a week ago.  Top story ?

By the way, it is difficult for Japan to raise the ranking because of various reasons such as GDP shrink, natural disasters and IT problems. Some foreigners don't want to live in Japan due to earthquake.

-1 ( +7 / -8 )

Top financial hub = Top laundromat

9 ( +11 / -2 )

So the government want to be an Asian financial hub, but the stock exchange has problems and foreign people not so welcome. What's the government plan, just say it without actually doing anything?

4 ( +5 / -1 )

Would like to know who is posting, are they residents, how long if so, work or own a business, have business experience at a company making decisions for 5 or more years? Any regulatory work would be nice to know as well. Can imagine the comments, still perhaps the questions would suggest thoughts of readers to understand people who are commenting.

-7 ( +2 / -9 )

In order to be a "hub" it is necessary to have both strong local talent (as nihonview points out) and also highly skilled foreigners as well (as the Japanese government has specifically stated they wish to attract). In this case Japanese and foreigners would work together to create such a hub.

I am surprised Tokyo did not fall further as Japan has certainly painted itself as very unwelcoming to foreign residents related to the re-entry restrictions and the vaccine issue (questioning whether a vaccine would be given free to foreign residents in addition to Japanese). If Japan continues down this path I would expect it to fall further.

It will also be interesting to see where Hong Kong ends up on this list 5 years from now.

4 ( +5 / -1 )

"Five of the top 10 centers for fintech are Chinese, according to the report." This, more than Tokyo's rank, is of far greater concern. The Chinese are not famed for their honesty or their transparency, and no institution is immune to Party interference.

7 ( +8 / -1 )

This must be based on last year's analysis. I predict next year China dictatorship cities will fall dramatically. Tokyo definitely should be a head of all Chinese cities.

0 ( +5 / -5 )

I'm sure South Korea will be ready and prepared to take advantage of Japan incompetence

Seoul moved up to number 25 this year. Congratulations!

1 ( +4 / -3 )

Tokyo, a financial hub? OK.

A world-leading financial hub? You're off your rocker.

The fact that HK is ahead says more about Tokyo than it does about HK itself, considering what's happening there.

3 ( +6 / -3 )

It’s not a good look to ban foreigners from travelling, especially those that live in Japan. Why would businesses want to work here?

8 ( +11 / -3 )

tokyo is like a very amazing high-tech sailboat. The LDP crew motored out to sea until the fuel was used up, then suddenly realized they left the sails on the dock. Probably the anchor too.

4 ( +6 / -2 )

with endless printing money and debts. we call it fake economy

7 ( +8 / -1 )

Yea, but does Japan have companies like Google, Amazon, Microsoft, and Apple?

Nintendo, Fanuc, Canon, Toyota, Sony. Japan has deep bench

Does America have anything else besides those four companies ?

NOPE!

-14 ( +2 / -16 )

I was very disappointed when the Government decided not to allow foreign residents to return to Japan in the last few months using the Covid pandemic as an excuse! It’s one of the many levels of anti foreigner and racism we encountering in Japan and for International Corporations it is a risk factor to well consider if it is worth posting staff or increasing investment in a country which simply behaves as if we were still living 200 years back! Shanghai and Singapore will only gain and Tokyo keep loosing out of such nonsense policies are used!

10 ( +11 / -1 )

Shanghai and Singapore will only gain and Tokyo keep loosing out of such nonsense policies are used!

LOL, I guess you don't that China and Singapore have the same polices.

-7 ( +3 / -10 )

I read this article in Japanese language a week ago.  Top story ?

That's how long it takes to translate it!

4 ( +5 / -1 )

Shanghai and Singapore will only gain and Tokyo keep loosing out of such nonsense policies are used!

Come on man, Shanghai? It is a communist dictatorship. I think you can assume that things will only get worse and that all of your information is being monitored and at risk. Singapore, maybe. Amongst a bad crew, Tokyo is not the worst. Maybe Australia can finally step up as it is in the same time zone and has a wonderful quality of life.

-3 ( +4 / -7 )

It will also be interesting to see where Hong Kong ends up on this list 5 years from now.

Shanghai is above HK. Why would the Chinese gov care?

1 ( +2 / -1 )

The Chinese are not famed for their honesty or their transparency, and no institution is immune to Party interference.

Now replace the word "Chinese" with "Japanese". Is it still not a true statement?

2 ( +4 / -2 )

This is a chance for Taipei.

2 ( +4 / -2 )

I don't place any value or trust in any of this. It does nothing except cost more to taxpayers and hard working people, while the white collar criminals go drinking it up and their bank accounts get fatter.

1 ( +3 / -2 )

No I don't. I want to develop Japanese talent. I saw the so call foreign talent at Lehman and Boeing.

Wonder what is impressive for you ? Technology wise both the companies were/are as impressive as it gets . Now if you are in Japan and do sales maybe a different story.

Nintendo, Fanuc, Canon, Toyota, Sony. Japan has deep bench

Does America have anything else besides those four companies ?

LOL did you just land on earth ? . It is so different you cant even put them in the same group. Japan is ages behind South Africa let alone the US.

Japan wraps products arround US or Europe products and sells them back cheaper and definetly not because made in Japan tech. The moment you start digging deeper behind the technology used in Nintendo, Sony , Totota you will quickly realize it is almost all non japanese talent behind.

Trust me you want to attract foreign talent . The situation is rather desperate.

8 ( +9 / -1 )

When a bunch of witless geriatrics are running the country, how long will it be before 5th place is attained?

9 ( +10 / -1 )

Interesting to me that Hong Kong can still lose its autonomy, but actually climb in business rankings.

Does that mean that they are doing incredible business regardless? Or is it that all financial centers had an off covid year.

It's because Hong Kong is a huge money maker for China, Europe, and The UK. Because of that, despite the turmoil, even the Chinese government won't mess with the business aspect of Hong Kong.

2 ( +3 / -1 )

4th place as a financial hub is not a bad thing, being in the top 10 will always bring you business and it means people can't turn their back on you. They love money

0 ( +2 / -2 )

Why would anyone from overseas want to invest here when they won't even allow those people in the country (or wouldn't until this week)?

Heck, on a micro scale of this, I went to the bank today to report a change of address -- should take less than one minute to verify and input into the computer. It took 52 minutes AFTER I started the process to complete. Things are not friendly for banking and investment here.

8 ( +10 / -2 )

@smithinjapan

"Heck, on a micro scale of this, I went to the bank today to report a change of address -- should take less than one minute to verify and input into the computer. It took 52 minutes AFTER I started the process to complete. Things are not friendly for banking and investment here."

You wouldn't believe if I told you the process took two and a half hours. That's when I seriously started regretting my decision to come to this country.

9 ( +10 / -1 )

No surprise. Can anyone invest in a country that have

their laws only in Japanese ???. Treating foreigners with no respect.

6 ( +7 / -1 )

Technology wise both the companies were/are as impressive as it gets

Yeah right, I was really impressed with the tech on the 737 max right up to the point were crashed into the ground. By the way, what is meant by the Lehman shock? If anyone needs  foreign talent , it is the west.

-11 ( +0 / -11 )

Tokyo slips to 4th place in global financial hub ranking: report

but the world biggest creditor Nation is:

Japan.

New York and London can't make a deal without Japanese money. At the end of the day, New York, London and Shangahi work for Japanese money.

-9 ( +1 / -10 )

[...] in the Global Financial Centers Index from London-based think tank Z/Yen Group and the China Development Institute in Shenzhen, southern China.

I am questioning the impartiality of the publishers. Shangai and HK up against Singapore and Tokyo ?! What's taken into account in this ranking ?

-1 ( +2 / -3 )

Nihonview.

Man, learn how to use quotes.

5 ( +6 / -1 )

After China took away Japan's second place, they are now doing it again with the financial hub ranking. It is only a matter of time that Singapore, Hong Kong, Shenzhen, Beijing, Taipei, Frankfurt, and many more cities will kick Tokyo out of top 10 Global Financial Hubs.

New York and London can't make a deal without Japanese money. At the end of the day, New York, London and Shangahi work for Japanese money.

HAHAHAHAHAHAHA!!!

The delusion of Japanese nationalists never cease to amaze me. Please tell me what currency is dominating the world so hard that the Chinese and Russians are trying to break away.

Your statement is idiotic to think the Yen is on the prominent level of USD and EUR.

2 ( +4 / -2 )

by my humble opinion,4th place still very overrated one...

2 ( +3 / -1 )

"Your statement is idiotic to think the Yen is on the prominent level of USD and EUR."

Who buys all of American and European bonds?

Japan does.

-5 ( +1 / -6 )

must be based on pre-2020 data. half those in the top 10 are going to take a hammering after covid-era data is accounted for. taipei and singapore will take the spots from all the chinese hubs that will tank in next year's report.

This must be based on last year's analysis. I predict next year China dictatorship cities will fall dramatically. Tokyo definitely should be a head of all Chinese cities.

+1

"Five of the top 10 centers for fintech are Chinese, according to the report." This, more than Tokyo's rank, is of far greater concern. The Chinese are not famed for their honesty or their transparency, and no institution is immune to Party interference.

+1

-2 ( +1 / -3 )

by my humble opinion,4th place still very overrated one...

Can't agree more . Turns out abenomics is China tourism and now with US sales down Japans economy comes down "go to" restaurants and hotels.

Nikkei is soo pumped , no one knows why .. I am actually worried ..

3 ( +3 / -0 )

Who buys all of American and European bonds?

Japan does.

Can you get them back when both Americans and Europeans selectively default on Japan?

Of course, not. Being the world's net creditor without actual military force and other systems of enforcement is the position of weakness. Meanwhile, China can project its military outside the country and can use the status of "world's workshop" to force the US and EU paying its debts. Japan isn't on par with China or EU at this point.

Can't agree more . Turns out abenomics is China tourism and now with US sales down Japans economy comes down "go to" restaurants and hotels.

Definitely, China controls the Japanese service economy, while the US-EU control the equities, assets and other means of production in Japan. The USA has the ability to suspend the Japanese sovereignty in case of wartime, where the US 4-Stars Generals can have more authority than both Imperial Family of Japan and Prime Minister's government.

If China decides to stop its tourists coming into Japan, the Japanese economy is toast.

If the USA confiscates all overseas assets of Japan and enforce no-transaction with USD on Japan, the Japanese nation will be North Korea overnight.

This Nihonview guy apparently lives in the dreams of 1930s or 1980s.

2 ( +2 / -0 )

Who buys all of American and European bonds?

Japan does.

Can you get them back when both Americans and Europeans selectively default on Japan?

That isn't possible. The bonds have a fixed maturity date. On the maturity date they are redeemed for face value plus interest. However bonds are bought and sold in vast amounts every day among private parties and governments not only have no control over this but have no idea who owns a particular bond at any given time. The sale price of the bond is inversely related to the interest rate. If investors see a particular bond as being risky they will demand a higher interest rate than the bond was originally sold at. In such a case the seller must reduce the sale price of the bond below the face value. That way the buyer, assuming they redeem the bond eventually get face value plus original interest, but since they paid less than face value they effectively receive a higher interest rate on the bond. The reality is bonds change hands constantly and have many owners over their maturity period. No government has the ability to selectively default as you propose as attempting to do so would immediately make all of its bonds worthless. If it didn't then the nation(s) trying to redeem them would simply sell to someone else willing to buy them and they would redeem them. Selective default is just not possible. I have no idea where these silly ideas originate but they need to be put to rest.

1 ( +1 / -0 )

@Nihonview; China has the same rule as Japan however for Permanent Residents Singapore does not (and never had) the same rule as Japan.

1 ( +1 / -0 )

Anything Chinese related is going to blow up and burn investors big time. Time to get out if you can. They have a serious Banking crisis over there at present, which their local Capital control measures are desperately trying to conceal, from those not in China... Typically everything is fake there - even the Company Reporting...

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites