Singapore and Hong Kong top the ranking of international financial centres (IFCs) in Asia by the volume of foreign direct investments (FDI) into their financial sectors. Capital expenditure for the rankings has been calculated by adding estimated values for projects where information had not been disclosed to publicly available information.
Between March 2011 and February 2012, Singapore attracted $2.79bn of FDI and Hong Kong $2.4bn, and their combined totals accounted for more than half of the total FDI into the Asian financial sector. Hong Kong recorded increases in both project numbers and capital expenditure, compared to the same period in 2010/11, and aggregate project numbers and capital expenditure for Asian IFCs also witnessed an increase. But, despite attracting 17 more projects in the 2011/12 period, Singapore recorded $342m less capital than in the 2010/11 period.