Shanghai is the largest city in China, and one of the largest metropolitan areas in the world. Located on China's central eastern coast at the mouth of the Yangtze River, the city is administered as a municipality of the People's Republic of China with province-level status. Shanghai is often regarded as the centre of finance and trade in mainland China. Shanghai also hosts the largest share market in mainland China. China is in Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and South China Sea, between North Korea and Vietnam. The climate in Shanghai is subtropical maritime monsoon and is generally mild and moist. Spring is warm, autumn is cool, summer hot and rainy and winter is overcast and cold. The official language is Mandarin, known locally as Putonghua. It is spoken in business circles even in southern China, where Cantonese is the vernacular. Chinese business people are increasingly learning to speak English, but in many cases, an interpreter is required. English is not widely spoken outside business circles. The main religions are Buddhism, Christianity, Islam and Taoism. 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. Business introductions are usually formal. Chinese surnames form the first part of the name. For example, Zhang Wei is Mr Zhang. Expatriate business dress is conservative. Men typically wear a suit and tie, while women wear a dress or a skirt and blouse. The security risk for expatriates in China is low overall, but medium in some parts such as in Guangdong province and the Xinjiang Uighur Autonomous Region (XUAR). Risks are mainly petty crime such as tourist scams and business corruption. The currency of China is the Chinese Yuan Renminbi (CNY). China is generally a cash economy. Outside of the major cities, credit cards acceptance and ATMs are fairly limited. Medical facilities are generally good in the major cities, however some hospitals can be over crowded with long waiting times. In some rural areas the standard of healthcare can be relatively poor. Healthcare is expensive for expatriates. Medical evacuation from China is very expensive. Certain medicines may not be available in China and may be prohibited from being brought into the country. Air pollution can be extreme in some areas and may aggravate bronchial, sinus or asthma conditions. The population of Shanghai is 34 Million (2019 est.), while the inflation rate (CPI) is 2.7% for China as at June 2019. Xpatulator Hypothetical Tax for China is based on the current personal income tax rates which are progressive up to 45%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Shanghai, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Shanghai as at 1 July 2019 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: High 2) Clothing: Very High 3) Communication: Very Low 4) Education: Average 5) Furniture & Appliances: Average 6) Groceries: Very High 7) Healthcare: Very High 8) Household Accommodation: Very High 9) Miscellaneous: Very High 10) Personal Care: Very High 11) Recreation & Culture: Very High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Average Shanghai is for example 69.8% more expensive than Houston TX for groceries, 213.3% more expensive for household costs than Kuala Lumpur, and 33.4% more expensive for transport costs than Dubai. The hardship premium for Shanghai for an expat from Perth, is for example 20%, i.e. host location (Shanghai) premium of 30% minus home (Perth) location premium of 10%. Shanghai is ranked as a high degree of hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Shanghai? Register subscribe to your home location and Shanghai and run your personalised reports.