8 Chinese cities among world's most expensive
Updated: 2016-03-11 13:30
By Dai Tian(chinadaily.com.cn)
Night view of Beijing's business center in Chaoyang district, April 23, 2015. [Photo/IC]
Among the world's 60 most expensive cities, China now has 8, said the Economist Intelligence Unit (EIU) in its latest report.
Shanghai, China's number one, has moved up two places and ranks 11th in the world in terms of cost of living, said the EIU, followed by Shenzhen and Beijing, which take the 16th and 31th spots respectively.
Living cost in Shanghai is now equal to that in Tokyo, the once most expensive city in Asia, according to the report.
"The rent in Beijing and Shanghai is about the same, though the latter has a higher dining and transportation cost," said a white-collar employee surnamed Liu, who relocated from Shanghai to Beijing last year. He added that he has just been informed of a rent raise.
Among the world's 60 most expensive cities, there are also some other Chinese cities, namely Dalian in Liaoning province, Chengdu in Sichuan province, Suzhou in Jiangsu province, Guangzhou in Guangdong province, and Tianjin.
Singapore retains its title as the world's most costly city for a third year in a row, with living price level equal to 1.16 times the New York standard, according to the report.
Zurich and Hong Kong follow closely in joint second place, with Hong Kong climbing seven places over the past 12 months.