New York retained its position as the leading financial center, while London confirmed second place on the global scale, surpassing Singapore and Hong Kong.
New York has been at the very top of the global ranking since September 2018, when it usurped the leading position from London, with 763 newly achieved points, according to research that includes 121 financial centers and is based on 147 factors, Hina reports.
However, London narrowed the gap slightly behind New York, reaching 744 points, which is likely to somewhat ease the fear of competition after Great Britain's exit from the European Union (EU).
London was the financial center of the world until September 2018.
Singapore is currently only two points behind London, with 742 points, and only one point better than Hong Kong, which took fourth place, hinting at an increasingly intense battle for second place in the global rankings, reports Reuters.
The London Institute Z/Yen and the China Development Institute compile an index of global financial centers every six months, based on data published by the World Bank (WB), the Organization for Economic Co-operation and Development (OECD) and the United Nations (UN), among others.
Financial centers in the United States of America (USA) achieved good results, considering that five of them ranked among the top ten in the world, which reflects the strength of the American economy, the authors of the research stated.
They added that New York also maintained its leading position in the separate rankings of financial technology companies, where London is also second, overtaking San Francisco.
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