COST OF LIVING IN CHINA
Date Modified: 07.13.2008
Content: Information on cost of living in China
Source: Wikipedia
Unless you are heading to Hong Kong or Macau, China is generally a cheap place to live. That is if you eat the local food, use public transport and rent in a reasonable apartment. RMB100 is an easily attainable budget. However, if you want to live an extravagant lifestyle and eat only Western food, even RMB1000 a day may not be enough. There is widespread variation in prices depending on where you go, with big cities like Shanghai, Beijing and Guangzhou generally costing more than the rural, more inland parts of the country. Shenzhen and Zhuhai are also known for being expensive by Chinese standards (which is still relatively cheap by Western standards) as many residents of Hong Kong and Macau, who are generally more affluent than their mainland Chinese counterparts, often go there to shop.
The official currency of the People's Republic of China is the renminbi, often abbreviated RMB. The base unit of this currency is the yuan international currency code CNY. All prices in China are given in yuan.
For years, the yuan was pegged at 8.29 to the US dollar, but in 2005 it was floated and has been slowly strengthening ever since. As of June 2008, it is around RMB6.90 to the US dollar.
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