Shang­hai, Bei­jing be­come ex­pen­sive

China Daily (Canada) - - NEWS CAPSULE -

The liv­ing cost in Shang­hai and Bei­jing is higher than Madrid as the cost of liv­ing in the two cities rises to the level of Europe, ac­cord­ing to a re­port.

In the re­port by the United Bank of Switzer­land (UBS) AG, a global fi­nan­cial ser­vice com­pany, UBS an­a­lysts com­pared the pur­chas­ing power in 71 cities across the globe. Zurich and Geneva in Switzer­land and New York City have the high­est prices; Bucharest, Sofia, and Kiev have the low­est, said the re­port.

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