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back to index backGLOBALtalk August,  2006


Beijing: Most expensive mainland city to live in

Beijing moved up five positions to take 14th place in living costs among 144 global cities, becoming Chinese mainland's most expensive city to live in, according to a survey conducted by Mercer Human Resource Consulting.

The result came after Mercer surveyed 144 cities across the world and compared the prices of 200 items, including housing, transport, food, clothing, household goods and entertainment.

Hong Kong took the 4th position, reporting a five-position rise, and Shanghai, a financial hub of China, ranks 20th on the list, up from last years' 30th place.

The ranking of Beijing and Shanghai far exceeded the 83re position of the America capital of Washington D.C. as well as many other European cities.

"Chinese cities have moved up slightly in the rankings as the value of the yuan is now pegged to a number of currencies rather than just the US dollar," said Anna Krotova from Mercer.

Moscow has replaced Tokyo as the world's most expensive city and Seoul is in second place, climbing three places since last year. Tokyo moves down two positions in the rankings to take third place. Asuncion in Paraguay remains the least expensive city in the survey.

The survey is intended to provide references for multinational companies on allowances for expatriate staff, according to Mercer.

The cost-of-living survey is carried out twice every year, in March and September respectively.

"We have noted the great changes in the cost-of-living ranking, which reflected the market changes. For many companies, it is now more expensive to send an employee to Russia than to South Korea and Japan, which used to cost more to live in than other countries." said Rebecca Powers, a senior consultant with Mercer.

Source: China DailyGAI


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