Qingdao, a coastal city of east China's Shandong province, ranked 46th in the 20th Global Financial Centers Index released on Monday, ranking 4th among Chinese mainland city and showing its rising competitiveness in the global financial sector. [qingdaonews.com]

Qingdao, a coastal city of east China's Shandong province, ranked 46th in the 20th Global Financial Centers Index released on Monday, ranking 4th among Chinese mainland city and showing its rising competitiveness in the global financial sector.

In the new ranking, the top four cities are London, New York, Singapore and Hong Kong, while other cities in China including Shanghai, Shenzhen, Beijing and Dalian are also shown on the list.

With more cities performing well in the financial sector, the Asia-Pacific region is expected to play more important role in the list in the future.

As one of the emerging financial centers in China, Qingdao is currently undergoing a transformation. In the first half of 2016, the city's added value of financial sector totaled 29.4 billion yuan, up by 8.5 percent over the previous year.