The cost of living in Shanghai is considered the highest in China. However, comparatively speaking, it is still significantly lower than Cities such as New York, Hong Kong and Singapore.
There is variation in expat’s budgets. Whether one is to choose a more economical lifestyle or live more extravagantly than they would back at home taking advantage of Shanghai's luxuries and renowned nightlife.
Regardless, it's good to be informed on the basic costs of living in Shanghai before arriving.