Beijing tops China in cost-of-living
By Mark South (China Daily)
Updated: 2006-06-29 08:44
Looking at 144 cities around the world, including five cities on the Chinese
mainland as well as Hong Kong and Taipei, the latest cost-of-living survey has
thrown up more than a few surprises.
While China watchers may be left
open mouthed by the ranking of Beijing as a more expensive place to live than
Shanghai, Taipei and Singapore, others around the world will be equally
perplexed that Moscow beat off the likes of Tokyo, London and Geneva to claim
the number one spot.
Hong Kong, ranked fourth between third-place Tokyo
and London in fifth, was the most expensive Chinese city with Beijing coming in
14th. Shanghai was six places below the capital in 20th, Taipei ranked 28th,
Shenzhen 44th, Guangzhou 54th and Tianjin 128th, one place below Bangkok.
Conducted by Mercer Human Resources Consulting, whose clients use the
survey to calculate cost of living allowances for staff transferred
internationally, the survey compared the prices of more than 200 items covering
housing, transport, food, clothing, household goods and entertainment
costs.
Many of the changes in standing from last year's survey, which
listed Tokyo as the most expensive city, were a result of currency fluctuations,
said senior Mercer consultant Rebecca Powers.
The move to peg the
renminbi against a basket of currencies rather than just the US dollar was a
major reason for cities on the Chinese mainland climbing up the scale, she
added, with Shenzhen rising 19 places, Guangzhou 11 places, Shanghai 10 places,
Beijing five places and Tianjin up three.
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