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.
Beijing is a metropolis in northern China and the capital of the People’s Republic of China. Beijing is amongst the most developed cities in China with tertiary industry accounting for 73.2% of its GDP. Finance is one of the most important industries of Beijing. Beijing is home to 26 Fortune Global 500 companies, the third most in the world behind Tokyo and Paris.
Beijing has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.