China ranks 26 in WEF 2009 Financial Development Index

The World Economic Forum released the 2009 Financial Development Report on October 8 in Switzerland. The United Kingdom, buoyed by the relative strength of its banking and non-banking financial activities, claimed the Index's top spot from the United States, which slipped to third position behind Australia largely due to poorer financial stability scores and a weakened banking sector.

This Report ranks 55 of the world's leading financial systems and capital markets. It analyses the drivers of financial system development and economic growth in developed and developing countries to serve as a tool for countries to benchmark themselves and establish priorities for reform.

The rankings are based on over 120 variables spanning institutional and business environments, financial stability, and size and depth of capital markets, among other factors.

The Financial Development Index 2009 rankings are: United Kingdom, Australia, the United States, Singapore, Hong Kong, Canada, Switzerland, the Netherlands, Japan, Denmark, France, Germany, Belgium, Sweden, Spain, Ireland, Norway, Austria, Finland, United Arab Emirates, Italy , Malaysia, South Korea, Saudi Arabia, Jordan, China, Bahrain, Israel, Panama, Kuwait, Chile, South Africa, Czech Republic, Brazil, Thailand, Egypt, Slovakia, India, Poland, Russia, Hungary, Peru, Mexico, Turkey, Vietnam , Colombia, Kazakhstan, Indonesia, Pakistan, Philippines, Argentina, Nigeria, Ukraine, Bangladesh, Venezuela.

By People's Daily Online