国产精品永久免费视频- 无码精品A∨在线观看中文 -热re99久久精品国产99热-国产成人久久777777

您現在的位置: Language Tips> Audio & Video> China Daily Media News  
   
 





 
Beijing more expensive than HK for foreigners
[ 2008-12-05 13:49 ]

進入英語學習論壇下載音頻

Beijing has for the first time become more expensive than Hong Kong for foreigners as a result of surging inflation on the mainland and appreciation of the yuan, a survey showed yesterday.

Rising costs pushed Beijing up to 31st place from 101st a year ago and Shanghai to 35th place from 106th, according to the survey by London-based ECA International, which advises companies globally on international assignments.

China's consumer price index, the main gauge of inflation, was 6.7 percent for the first 10 months, after it fell to 4 percent in October from 7.1 percent in January.

The Chinese currency has risen 20 percent against the US dollar since 2005, when the government de-pegged it from the greenback to link it with a basket of foreign currencies. But its rising trend has stalled recently as it continued to fall yesterday for the fifth straight day, trading at 6.8837 per US dollar in the over-the-counter market.

Hong Kong fell in the rankings to 97th spot in the latest survey, which compares a basket of 125 consumer goods and services commonly purchased by expatriates in more than 370 locations worldwide.

Volatile exchange rates stemming from the global financial crisis also mean London and Seoul are no longer among the top 10 most expensive locations for expatriates.

Meanwhile, Japanese cities have returned to the upper end of the league table.

London is now ranked 72nd in the global listing of expat locations, while Seoul takes 90th place following their currencies' sharp depreciation in the past year.

Angola's capital Luanda remains the costliest place for foreigners. That is mainly because certain items and brands typically required by expatriates are not readily available and are therefore very expensive.

Moscow has replaced Oslo as Europe's most costly location while a strong yen has made Tokyo the second-most expensive city in the world, up from 13th position a year ago.

A 48 percent depreciation in the South Korean won means goods and services in Seoul - which a year ago were 5 percent more expensive than in Tokyo - are now 40 percent cheaper than prices in the Japanese capital, ECA said.

Such sharp currency swings create a challenge for companies remunerating expat packages, most of which are based on an expat's home currency, says ECA.

"Companies which split pay between the employee's home and host countries will be much better equipped to ride out the current currency volatility," said Lee Quane, Asia general manager of ECA International.

The survey does not cover the cost of accommodation, school fees or car purchases, which ECA says are usually compensated for separately in expatriate packages.

Manhattan shot up to 20th place - tying with Paris - from 54th a year ago as a rebounding US dollar made American locations, and locations with currencies tied to the dollar such as Hong Kong, much more expensive.

"In the past two months, goods and services in Hong Kong have swung from being 10 percent cheaper than in London to being almost 10 percent more expensive," said Quane.

The cost of living in Taipei and Singapore has also increased, helped by rising inflation.

While a handful of African cities featured in the top 20, Africa is also home to the cheapest location for foreigners, Maseru in Lesotho.

The latest survey was conducted in September but November exchange rates were used in the calculations.

Questions:

1. What are some reasons why Beijing jumped ahead of Hong Kong as being a more expensive place for expatriates to live?

2. Which city replaced Oslo as the most expensive European city?

3. Why do companies need to know the cost of living in these various cities?

Answers:

1. The Chinese currency has risen 20 percent since it was depegged from the US dollar in 2005, and the consumer price index rose 6.7 percent in the first 10 months of this year.

2. Moscow.

3. So that they can remunerate expat packages which are based on an expat’s home currency.

(英語點津 Helen 編輯)

Beijing more expensive than HK for foreigners

About the broadcaster:

Beijing more expensive than HK for foreignersBernice Chan is a foreign expert at China Daily Website. Originally from Vancouver, Canada, Bernice has written for newspapers and magazines in Hong Kong and most recently worked as a broadcaster for the Canadian Broadcasting Corporation, producing current affairs shows and documentaries.

 

 
英語點津版權說明:凡注明來源為“英語點津:XXX(署名)”的原創作品,除與中國日報網簽署英語點津內容授權協議的網站外,其他任何網站或單位未經允許不得非法盜鏈、轉載和使用,違者必究。如需使用,請與010-84883631聯系;凡本網注明“來源:XXX(非英語點津)”的作品,均轉載自其它媒體,目的在于傳播更多信息,其他媒體如需轉載,請與稿件來源方聯系,如產生任何問題與本網無關;本網所發布的歌曲、電影片段,版權歸原作者所有,僅供學習與研究,如果侵權,請提供版權證明,以便盡快刪除。
相關文章 Related Story
 
 
 
本頻道最新推薦
 
Walking in the US first lady's shoes
“準確無誤”如何表達
英國新晉超女蘇珊大媽改頭換面
豬流感 swine flu
你有lottery mentality嗎
翻吧推薦
 
論壇熱貼
 
別亂扔垃圾。怎么譯這個亂字呀?
橘子,橙子用英文怎么區分?
看Gossip Girl學英語
端午節怎么翻譯?
母親,您在天堂還好嗎?