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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3404)	7/24/2004 12:05:06 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

Expats face steep living costs in China Survey says costs exceed those in Tokyo and New York COMPANIES are increasingly moving staff and offices to global investment hotspot China, but while still a developing country it has some of the world's highest living costs for expatriates, a survey says. Conducted by the US-based Mercer Human Resource Consulting firm, the survey found that the cost of apartments and tuition for children in China's expat hubs was even more expensive than cities like New York and Tokyo. A 200 square metre furnished house at prime locations for expats in the eastern metropolis Shanghai, for example, rents at US$9,400 a month. This is higher than US$7,500 in New York, the poll found. Beijing topped the chart of the most costly Chinese city to live in for expatriates, followed by Shanghai and Shenzhen in the south. Education for children at expatriate schools in China is also a big money burner. Annual tuition comes to US$17,000 for kindergartens, US$18,000 at primary schools and US$19,000 at middle schools - higher than the average US$15,000 in Hong Kong and US$17,000 in Tokyo for all levels, the survey said. The survey is part of an annual study of 144 cities around the world. It is aimed at helping multinational companies determine the costs of stationing staff overseas. Specific results for China were released this week. The poll measures the comparative costs of more than 200 items in each location, including housing, food, clothing, household goods and transportation and entertainment. With all the items taken into consideration, Tokyo remains the world's most expensive city in the world, while London took second place, followed by Moscow, according to the survey. New York ranked 12th and Paris 17th. Four of the world's costliest cities are in Asia. In addition to Tokyo, they were Osaka, which ranked fourth, followed by Hong Kong in fifth place and Seoul in seventh. business-times.asia1.com.sg