New York and London retain top spots in global financial centers index

LONDON, Sept. 24 (Reuters) – New York easily held on to the top spot in the latest Global Financial Centers Index (GFCI), while London held on to second place as Chinese cities fell, according to the ranking released on Friday.

The index, released by the Z / Yen Group in partnership with the China Development Institute think tank, will be a relief for London especially after losing access to the European Union’s financial market when Britain finished. his exit from orbit of the block the last time. December.

“The relatively strong performances of New York and London suggest that the financial services sectors in these cities have managed to maintain their performance despite radical changes in working practices over the past 18 months,” GFCI said in a statement. .

Hong Kong and Singapore in third and fourth position both lost 25 points in the standings.

“We see two trends in the GFCI 30 results – confidence in the recovery of the economies of North America and Western Europe after the shock of 2020; and stabilization following the rapid rise of Asia / Pacific centers and their economic stability in COVID. -19, “said Michael Mainelli, executive chairman of Z / Yen.

“The competition remains tight. Outside of the first two centers, only five points on a 1,000-point scale separate the centers ranked third through eighth.”

In their survey of fintech centers, New York and Shanghai retained first and second positions, with London dropping from two places to third place as Britain made pro-fintech policies a priority.

Reporting by Huw Jones, editing by William Maclean

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