China's global financial ranking on rise

China ranks fourth in terms of its global financial competitiveness this year, following the United States, United Kingdom and Japan, with China's rank one place higher than last year, according to a new report released at the Digital Finance Forum during the Global Digital Economy Conference 2025 in Beijing.

The report, which evaluates 31 countries globally and was released by the Chinese Academy of Social Sciences on Thursday, states the gap between the scores of China and the US has narrowed for four consecutive years.

Global financial competitiveness is defined as the ability of an economy's financial system to allocate financial resources and manage risks more effectively on a global scale compared to other economies, thereby promoting economic growth and social development, according to the CASS.