Raising a Child in Hong Kong: Staggering Cost Surpasses US, UK, Australia

High school boys attend class, wearing masks to protect against SARS, in Hong Kong, on April 22, 2003. Peter Parks/AFP via Getty Images

The cost of raising a child in Hong Kong soared to a staggering nearly $3,500 per month, topping costs in the United States and other advanced countries.

A June survey conducted by Hang Seng Bank, after questioning 633 Hong Kong residents with liquid assets of HK$1 million ($130,000) or more, found that it costs an annual average of HK$284,000 ($36,000) to raise a child in Hong Kong.