'''Mexico City''' (, ; abbreviated as '''CDMX'''; ) is the capital and largest city of Mexico, as well as the most populous city in North America. Mexico City is one of the most important cultural and financial centers in the world. It is located in the Valley of Mexico (), a large valley in the high plateaus in the center of Mexico, at an altitude of . The city has 16 ''demarcaciones territoriales'', subdivisions colloquially known as ''alcaldías'', i.e., boroughs.