SINGAPORE, June 10 (Xinhua) -- Three Chinese cities, namely Beijing, Shanghai and China's Hong Kong, are among the top 50 most expensive locations in the world, according to a survey released on Wednesday.
The survey, which was conducted by a human resources consultancy, ECA International, showed that Beijing is now ranked the 26th most expensive cities worldwide from the 104th last year. Shanghai and China's Hong Kong are currently ranked the 28th and 29th respectively. Last year, the two Chinese cities stood at the 111th and the 98th respectively.
Luanda, capital of Angola, is the most expensive city in the world while Japan's Tokyo is ranked the second on the list.
In Asia, Tokyo is the first of the top 51 most expensive cities in the region. Five Chinese cities such as Beijing, Shanghai, China 's Hong Kong, Shenzhen and Guangzhou are also among the top 10 most expensive cities in the region.
As for Singapore, the city state is the 10th most expensive city in Asia and 72nd worldwide.
The cost of living in Asia has become more expensive as Europe and the United States are bearing the brunt of the recession, said ECA International, which carries out the cost of living survey twice a year by comparing a basket of commonly purchased consumer goods and services in over 370 locations worldwide.