Shanghai ranks No. 30 in cost of living: survey

A survey found that the cost of living in Shanghai was the 30th highest among major cities around the world, local media reported Thursday.

Shanghai jumped 11 places on the list, up from No.41 on the Economist Intelligence Unit's last biannual report, according to China News Service.

Along with the strengthening renminbi, high real estate prices have contributed to the rising cost of living in Shanghai, business commentator Ye Tan told China News Service. Although it was not included in the survey, rising real estate prices have caused the prices of other basic goods to increase in the city.

The Economist Intelligence Unit's report compared the cost of living in 131 cities worldwide by examining the prices of 160 goods and services, such as bread, table wine and branded cigarettes. The items were chosen from supermarkets and mid-range and higher-end stores, according to the report.

Shanghai ranked the highest among the eight listed cities on the Chinese mainland. Other mainland cities included Shenzhen, No.40; Dalian, No.43; Beijing, No.54 and Guangzhou, No.71. Hong Kong and Taipei were respectively ranked No.14 and No.60. New York, which the report used as a benchmark, stood at No.27.

The report pointed out that more Asian metropolises have made the list over the last few years, replacing many of the traditionally more expensive cities in Europe. Cities in Asia made up 11 of the world's 20 most expensive cities, compared with eight from Europe.

Tokyo ranked at the top of the list, rising one place to overtake Zurich as the most expensive city in the world.