Shanghai has the best financial environment in China. That's according to the freshly released Global Financial Centres Index published by the British consulting firm Z/Yen.

The Global Financial Centres Index - or GFCI - analyzed the financial influence of different cities by looking at their infrastructure and professional resources, as well as their economic development.

In the latest GFCI rankings, London, New York City, Singapore and Hong Kong make up the top four. This time, one of China's top financial centers, Shanghai, retained it's spot at 16th place, while Shenzhen made 22nd spot, and Beijing came in at 26.

"There is certainly potential there. I think one of the things of holding all Chinese centres back a little is the uncertainty of how quickly the market will be open up internationally," said Mark Yeandle, Deputy President, Z/Yen Group.

"But I certainly think in the few years, if that is to come, there is no reason why Shanghai couldn't be top ten."

Shanghai city government officials also attended the conference today. To help the city gain more economic power on the global stage, the Shanghai Municipal Financial Service Office has set five goals in the next five years to help Shanghai climb to a more influential place.

"Shanghai's dream is that by 2020, we could build an international finance center that fits China's financial situation and the Renminbi's reputation," said Zheng Yang, Directory, Shanghai Municipal Financial Service Office.

"We will realize the goal by building a multi-layer economic system that has functions like pricing and payment. We will also try to build an institutional system that is more competitive in the world and the industry."

Z/Yen says the next rankings may see some changes as the Brexit result may dislodge London from its Number 1 spot. The index comes out twice a year and this is the first time it has been released here in Shanghai.