Shanghai has been identified as the most expensive city for expats in Asia.  A survey conducted by the London-based ECA International consulting company shows that Shanghai jumped from the third place in 2014 to become the most expensive city in Asia this year.

The survey - which has taken into account the overall cost of living in Asian cities - has emphasized that the strengthening of the yuan against rival currencies has been behind the designation of Shanghai as the continent’s most expensive city.

It also says the same factor has already put most Chinese cities at the top of the list of Asia’s most expensive destinations for expatriates visiting the country.

"In spite of the minor depreciation in the renminbi (yuan) against the dollar over the summer, it has strengthened against most other currencies leading to Shanghai becoming the most expensive Asian city for international expats," ECA's Asia regional director, Lee Quane, has been quoted by Reuters as saying.

"It is likely that major Chinese cities will remain expensive destinations for mobile executives for the foreseeable future."

Chinese cities including Hong Kong account for 11 of the 20 most expensive Asian cities.

They also make up the biggest share of a list of the 30 most expensive worldwide for expatriates, with six of them beating cities in Switzerland and Japan.

Chinese cities listed in the study jumped across the board in Asia. Beijing (2nd), Guangzhou (6th) and Shenzhen (7th) rose from fourth, 13th and 22nd.

Macau saw the largest rank increase, moving up to 13th place from 34th last year.