Thursday, July 22, 2010

China, Shenzhen - Cost of Living

The economy of the People's Republic of China is a rapidly developing and influential market economy. China is the one of the worlds largest economies. China has had the fastest-growing major economy for the past 30 years with an average annual GDP growth rate above 10%. China's per capita income has likewise grown at an average annual rate of more than 8% over the last three decades drastically reducing poverty.

Shenzhen is a city of sub-provincial administrative status in southern China's Guangdong province, situated immediately north of Hong Kong. Shenzhen is a major manufacturing centre in China and is home to some of China's most successful high-tech companies. Shenzhen's economic output is ranked fourth among Chinese cities after Beijing, Shanghai and Guangzhou.

Shenzhen has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of rank overview for each of the 13 Basket Groups is now available.

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