In the latest "Global Financial Centers Index (GFCI) Report", Hangzhou has recently moved nine places up the global rankings to 63rd. It is the city with the sharpest rise among all financial centers in Chinese mainland and Asia.

The report points out that, Hangzhou's financial technology industry is the main driving force for the rise in the rankings. For one thing, the private economy is active, and the financial market is diversified. For another, the government policy support creates the favorable environment for the development of finance industry.