Guangzhou ranked among the top 20 in the Global Financial Center Index 27 released by the China Development Institute and Z/Yen, an independent think tank from the United Kingdom, on March 26.

Guangzhou climbed to the 19th position this year from its previous position of 23rd and was listed as the fifth largest financial center in China, after Shanghai, Hong Kong, Beijing, and Shenzhen.

Three out of the top 20 cities listed are from the Guangdong-Hong Kong-Macao Greater Bay Area, namely Hong Kong, Shenzhen, and Guangzhou, fully showcasing the financial power of the Greater Bay Area.

Guangzhou has gained great momentum in areas like boosting financial innovation and promoting the construction of financial hubs in recent years, especially in the past year. 

Guangzhou's financial contribution to the regional gross domestic product has increased to more than 8 percent.