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UK: Taipei No. 19 in ranking of world's financial centers

UK: Taipei No. 19 in ranking of world's financial centers

Taipei was ranked the world's 19th top financial center, still well behind the world's top three -- London, New York and Hong Kong -- a British survey showed.

Taipei's ranking -- including finishing ahead of Paris -- matched the city's best showing since being first included in the British think tank Z/Yen Group's survey in March 2009.

The survey is conducted every half-year based on such indicators as professionals, business environment, market access, infrastructure, competitiveness, access to capital and Internet technology use.

Mark Yeandle, deputy director of the Z/Yen Group, told the Central News Agency that Taipei's ranking remained the same as last September, indicating international financiers were confident in the city.

When his company launched the survey in March 2007, only three Asian cities were in the top 20, Yeandle said, but now the number has increased to eight, an indication of Asia's growing clout in the financial sector.

He expected Asia to soon surge ahead of Europe and the United States in terms of financial competitiveness.

Following the top three were Singapore, Shanghai and Tokyo (tied for fifth), Chicago, Zurich, and Geneva. Sydney and Toronto were tied for tenth, and were followed by Boston, San Francisco, Frankfurt, Shenzhen, and Seoul.

Beijing and Washington, D.C. were tied for 17th, Taipei was 19th and Paris was 20th.

Yeandle said Japan's recent earthquakes could influence Tokyo's status as a financial center, but over the long term, it's competitiveness will not be damaged.