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Cost of Living in China

Are you about the make the jump to China? Good

decision. But do you know how much the cost

of living is?

How much does it cost to live in China? Is China cheap for both international students and foreigners? Well,

this article will reveal the cost of living in China. To begin with, the expenses incurred while living in China

will depend on your geographical location and the lifestyle you choose. For instance, the price can be

high in coastal regions such as Guangzhou, Shanghai, and Shenzhen.

In China, money is issued in notes and coins. There are notes for 1, 2 and 5 jiao and, 1, 2, 5, 10, 20, 50 and 100 yuan. Fen are issued as coins while yuan and jiao coins have a value of 1. It’s important to keep in mind that there are very strict foreign currency exchange

regulations in China.

Exchanging back Chinese currency back to foreign currencies requires a copy of the original exchange memo. Therefore, if you are working in China and paid in yuan, it might be difficult to convert your

savings into another currency. Due to such regulations, there is an active black market for

currency exchange.

The Cost of Living in China ExplainedA few decades ago, China was considered a “bargain country”. However, with the current world economy and an increase in living standards, the cost of living has increased. Hong Kong, Shanghai, and Beijing are among the most expensive cities to live in the world.

The rent is not the only thing to worry about. Foreigners who live in the higher circles of the

Chinese society will have to pay Western prices at 4 or 5-star restaurants, top-level schools and other places.

On the brighter side, you can also live cheaply if you stick to the living standards of the low and middle-

class population. For instance, living in old-fashioned Chinese apartments with limited amenities, eating at cheap noodle outlets and riding buses instead of taxis

will save you a lot of money.

Transport costsWhile it’s hard for one to get around Western Cities,

such as New York, without owning a car, in China, you don’t need a private car. China’s railway system is the

most advanced in the world. This makes it easier, convenient and affordable to travel around.

Here’s a glimpse of transportation costs in Major cities:· Beijing – Subway (about 30 US cents), Bus (10-20 US cents) and Taxi (30 US cents per kilometer).· Guangzhou – Subway (40-120 US cents), Bus (20-40 US cents) and Taxi (40 US cents per kilometer).· Shanghai – Subway (40-120 US cents), Bus (30 US cents) and Taxi (about 40 cents per kilometer).

FoodThe Chinese food available in your home country is

different from what you will find at local Chinese food joints. This is because most recipes are tweaked to

suit local tastes.

Eating in China is very affordable. For instance, a meal at small local restaurants can cost between 5 and

25RMB (US$1-4) while mid-range restaurants charge between 25-45RMB (US$4-7). This included both

international and Chinese cuisine.

As far as housing is concerned, you have two options. Expat accommodation or Chinese-style apartments. Expat accommodations are not good for your wallet as they are located in most expensive coastal cities. However, they come with better amenities such as

gyms, swimming pools, playgrounds and more.

Chinese-style apartments are ideal for foreigners who desire to save some money. A standard one-bedroom

accommodation in Beijing requires 5000-6000 CNY per month while expat accommodations require at

least 22000 CNY per month.

Utility costsIn a typical expat home, the rent covers your monthly utility bill. However, in Chinese-style apartments you have to pay the utility bills separately. For instance, the gas bill for a two-person household is about 50-100 CNY per month. Water is more expensive while

electricity is the largest expense.

So, how much money do you need in China?As mentioned earlier, the cost of living in China will

depend on your lifestyle and location. Here’s a rough estimate of how much each living standard costs:

Minimum survival – About US$400 per month. This is how much you need if you don’t have to pay the rent. It allows you to live on rice and noodles, buy a Western meal once in a while, pay for basic health

treatment and take a taxi when a need arises.

Average – Around US$1000. Here, you can rent a basic apartment in major cities, pay health insurance,

travel around and enjoy a bit of Chinese culture.

Luxury – This is “the good life”. Here, you don’t limit yourself. This lifestyle can cost you up to

US$1,000,000 per year in major cities

ConclusionAs a foreigner, the cost of living in China can be cheap

or expensive. Take part time jobs o boost your income. Also, ensure that you learn a bit of Mandarin as this will help you communicate well with the locals. Know where to eat. If you are there with friends, take an apartment together so that you can split utility bills

and monthly rent.

BonusClick on the link below to read the full blog post!

https://blog.laowaicareer.com/cost-of-living-in-china/

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