24 cities in emerging markets that are becoming the next generation of financial powerhouses


China flag waving Shanghai boy riding

ChinaFotoPress/via Getty Images

A boy waves a Chinese flag riding on his father's neck at the Bund during the second day of the National Day holiday on October 2, 2014 in Shanghai, China

The Global Financial Centres Index was last published in March, when we profiled some of the centres that have expanded at the fastest pace since 2010.


This time, we looked at the overall rankings, showing that London unseated New York for the number one spot this year.

Now we're looking at which cities rank highest in emerging markets - defined as any countries included on MSCI's emerging markets index.

The rankings consider five metrics:

  • Business environment
  • Financial sector development
  • Infrastructure
  • Human capital
  • Reputational and general factors.

All the points are out of 1,000. Take a look at which cities make the cut.