London has retained its top spot as the world's leading financial centre, fending off stiff competition from New York and Asian cities. That's according to the Global Financial Centers Index released on Tuesday.

Over 100 cities across the globe vied for the top spot on the international rankings. The candidates are evaluated based on such standards as financial infrastructure, the rule of law and reputation. The result also referenced data from the World Bank, the United Nations and the OECD, as well as survey responses of more than 2,300 financiers from around the world. Four Chinese cities made the top 20, with Hong Kong ranking the 3rd, followed by Shanghai 6, Beijing 11 and Shenzhen 18.