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Shanghai most costly for business

(Global Times)

09:38, October 20, 2011

Shanghai has topped the Forbes list of cities with the highest operating costs on the Chinese mainland, which was released Wednesday.

Hangzhou ranked second and Beijing third on the list of 25 cities.

The survey covered 129 cities with GDPs of over 43.6 billion yuan ($6.84 billion), and took into account labor costs, office rents, energy prices, tax and insurance.

Forbes said municipalities directly under the central government, provincial capitals and cities with separate budgets have the highest operating costs. Seven of the cities were in the Yangtze River Delta.

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