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Jennifer Ngo

When Hong Kong's Olympic windsurfing champion Lee Lai-shan said in 2006 it would take HK$4 million to raise a child, it caused a commotion in the city.
Her remark, made in a television commercial for a local bank, sparked intense debate over the accuracy of her estimate.
There are no official statistics, and the amount varies greatly depending on parenting style and the child's needs, but a middle-class family in Hong Kong does typically spend HK$3 million to HK$4 million to bring up a child, according to calculations by an independent financial advisory firm. 
That is in line with estimates by insurance companies, banks and other firms that sell education investment funds to parents.
Before kindergarten, expenses for a child are fairly straightforward - food, nappies, health check-ups and toys. 
A can of milk powder costs from HK$250 to HK$ 350 and lasts about two weeks, which puts it at about HK$8,000 a year. Disposable diapers cost HK$200 to HK$300 per pack for two to three weeks; that is a further HK$6,000 a year. Then there are toys and the occasional doctor's visit for a case of the sniffles. 
As the child grows, spending on food, pocket money and transport will all rise - but these are still just a small percentage of total spending.
Education - in and outside school - is easily the biggest child-rearing expense for parents in Hong Kong. It is also the single biggest variable in the calculation. 
The parents' choice of type of school makes a huge difference to how much the cost of raising a child will be.
Beginning with kindergarten, there are many alternatives, each with its own level of affordability. 
Local kindergartens typically cost HK$1,500 to HK$4,000 a month, but 'elite' ones can run as much as $HK10,000. Fees at international kindergartens range from HK$70,000 to more than HK$170,000 a year.
At the primary and secondary levels, public schools are free of charge. Direct subsidy scheme schools, which receive limited government funding while enjoying a level of autonomy similar to that of private schools, charge HK$50,000 to HK$60,000 a year for primary school and about HK$100,000 for secondary. 
International schools may cost up to double that. The most expensive international primary school charges HK$170,000 a year, and the most costly secondary school, HK$202,000 a year.
Another major expense is for extra-curricular activities such as private piano lessons, a foreign language course or sports training. Learning to play a musical instrument, for instance, can cost from HK$200 to HK$1,500 or more per session for a child. 
While such activities are not essential, there is a tacit understanding among middle-class families that a child should take part in at least one of them. At admission interviews for elite schools, principals will casually but inevitably bring up the topic.
Most universities in Hong Kong are publicly funded and cost about HK$42,000 for two full semesters. 
But if a child studies overseas, tuition fees could skyrocket into the millions. 
The United States and Britain are destinations for tertiary education popular among Hongkongers. Tuition plus living expenses there can easily surpass HK$250,000 a year and may go as high as HK$400,000, depending on the school, the country and the regional standard of living, as well as the child's spending habits. 
Over and above their formal education, many Hong Kong children receive tutoring outside school. Again, how much it costs will vary, depending on the parent's preferences, the child's interest and the family's income.



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HK$4m to raise a child? It's not far off the mark