Economy

Shanghai among world's most expensive cities to live in

(Crienglish.com)
Updated: 2010-06-15 17:33

East China's metropolis of Shanghai has been listed as one of the 50 most expensive cities in the world to live in, according to the latest cost of living data from ECA International.

Shanghai dropped 18 places to 46th position in the 2010 global ranking, with Tokyo reclaiming the number-one position.

Beijing, China's capital, fell 29 spots to 55 in the ranking, followed by Guangzhou and Shenzhen.

Related readings:  Better urban living standards  Shanghai: The Paris of the East

The falling of Chinese cities on the list is attributed to the pegging of the Chinese yuan to the weakened US dollar, said the human resources consultancy.

ECA's survey on the cost of living in cities across the world compared a basket of consumer items and services consumed by expatriates working in more than 370 locations globally, including daily food products and items that meet the general needs of foreigners.