Wuhan, capital city of Central China's Hubei province, has been rated as one of the top 10 financial centers among all Chinese mainland cities, according to local media reports.
Shanghai, Beijing and Shenzhen took the first three places in the China Financial Center Index (CFCI), which was compiled by the Shenzhen-based think tank China Development Institute (CDI) and released on Dec 4.
The top 10 domestic cities also included Guangzhou, Hangzhou, Chengdu, Tianjin, Chongqing, Nanjing, Zhengzhou, Suzhou and Xi'an.
A significant trend is that the gap between different levels of financial centers in China is widening, with developed financial cities growing more robust, said Liu Guohong, director of the Finance and Modern Industry Research Center at CDI.
CFCI, which has been published once a year since its launch in 2009, bases its results on a number of indicators, including development of local financial institutions, financial openness, capability of attracting financial talent, risk management capabilities and financial policies.
The cumulative added value of the financial industry among the 31 Chinese mainland financial centers included in the CFCI amounted to 4.44 trillion yuan ($678 billion) in 2019, accounting for 57.7 percent of the nation's total. A year earlier, the figure was 56.1 percent.
