Guangzhou, South China ranks the 70th in the world and the 4th in mainland China in terms of cost of living, according to 2008 Mercer's Cost of Living Survey released yesterday.

The survey also revealed that if one pay about only 1/4 more than you does in Guangzhou, he would afford to live in New York City, US.

On the other hand, the cost of living in Guangzhou is very low. It amounts to only half of that of Moscow, 71.3% of Hong Kong and 75% of Beijing¡ªeven lower than Shenzhen, a nearby metropolis in the Pearl River delta.

A corner of a residential community in Guangzhou. (www.gzclub.net)

These conclusions are based on the comparative costs of housing, transport, food, clothing, entertainment and other 200 categories of daily expenses.

As the most eminent survey of it kind, the Mercer's Cost of Living Survey is conducted almost every year. Its results are widely referenced by governments and multinational companies to decide their compensation allowances for their expatriate employees.

Moreover, the rankings indicate the performance of the economies as well as the ups and downs of their competitiveness.

With the growth of Chinese economy, recent decades have witnessed many Chinese cities climbing up the scale.

Currently, there are altogether 7 Chinese cities finding their way in the top 144 ¡°expensive city club¡±. They are Hong Kong, Beijing (20), Shanghai (24), Taipei, Shenzhen (61) and Guangzhou.

Top 5 cities - Asia Pacific
* Tokyo, Japan (2nd) 
* Seoul, South Korea (5th) 
* Hong Kong, China (6th) 
* Osaka, Japan (11th)
* Singapore, Singapore (13th)

The lowest ranking city in Asia was Karachi, Pakistan (141st)