Which of the following statements is/are correct about the city of Singapore as a global financial center?
1) Singapore is the world's largest center for offshore banking.
2) Singapore has the highest number of hedge funds in the world.
3) It is at the 4th position as per Global Financial Centres Index.
Singapore is the world's largest center for offshore banking, but it does not have the highest number of hedge funds in the world. China's Hong Kong Special Administrative Region (HKSAR) maintained fourth place in the 33rd edition of the Global Financial Centres Index (GFCI) Report published on Thursday, which experts said is a reflection of the city's strengths and advantages as a leading global financial center, despite global challenges.
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