THE World Economic Forum (WEF) Annual Financial Development Report has named Hong Kong as the world's top financial centre for the second year running, thanks to the strength of its business environment, infrastructure and a favorable tax regime.  

The WEF's report considered a wide range of factors and highlighted the rise of Asian trading centres and the influence of China as the world's second-largest economy.  

While, rival surveys based purely on the total value of transactions typically put New York or London in top place.  

Nevertheless, halting capital markets, stammering economic growth and fading trust in financial organisations served to make sure that the top six positions remained unchanged from 2011. Macroeconomic uncertainty as well as concerns related to regulation, contributes to restrain the financial industry from   funding greatly needed growth.