Hong Kong has been ranked among the top 3 global financial hubs, following New York and London according to the 25th edition of the Global Financial Centers Index report launched in Dubai.

China's financial center Shanghai grabbed fifth position on the list ahead of Tokyo, Toronto and Zurich, according to the report jointly released by the city of London's think tank Z/Yen Group and Shenzhen's China Development Institute.

Beijing ranked ninth ahead of Frankfurt, putting three Chinese cities in the top 10 world hubs.

The index tracked 112 financial centers globally, with 102 centers in the main index and 10 in the associate list, according to their business environment, human capital, infrastructure, financial sector development and reputation.

Z/Yen Group released the first edition of the GFCI in March 2007 and partnered with CDI in July 2016 to produce the GFCI as a valuable reference for policy and investment decisions.

Let's take a look at the top 10 global financial hubs.