New York City held on to its top ranking over No. 2 London among cities in the Global Financial Centres Index, Reuters reported Thursday, citing data from London-based think tank Z/Yen. Hong Kong fell to fourth place and Singapore moved up to third. Moscow’s ranking dropped to 73rd from 51 in the face of economic sanctions following Russia’s invasion of Ukraine. New York overtook London in the survey four years ago and has held the top spot since then. Tokyo fell to 16th place from 10th, and Paris moved up to the No. 10 position. Z/Yen and the China Development Institute compiled the GFCI rankings by rated 119 centers using 66,121 assessments from 11,038 financial professionals and quantitative data.

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