How much is $500 USD REALLY worth to the Chinese (yuan)

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How much is $500 USD REALLY worth to the Chinese (yuan)
May 26, 2011 21:04	#11
BL2022 Points: Join Date: Jun 2, 2010 Status: Offline	Quote: Originally Posted by GUEST23665 HOW MUCH IS 1 USD WORTH IN CHINA The rate differes everyday. Today, 1 USD worth RMB6.49

Jun 7, 2011 22:34	#12
GUEST00135	bottle of coke= 2.5 yuan small yogurt = 5 yuan 2 litres of water = 5 yuan 1 mechanical pencil = 1.5 yuan 4 cloves of garlic = 11 yuan 2 western onions = 7 yuan 1 bus ticket = 1.5 yuan that's all I can think of right now :)

Jun 5, 2012 22:12

#13

GUEST06173

This is a little late (June 2012), but here's the deal: 500 USD is a lot of money to most Chinese, probably about a month's salary in most cities, and maybe a bit more than half a month's pay in Shanghai. However, to the new mega-rich in China, 500 dollars is chicken-feed.

A one-person meal at KFC in Shanghai ranges from 20 to 50 CNY, so about 3 to 8 dollars at the June 2012 rate. A person can eat well for much less, if he or she goes to a real Chinese place. To do that, however, you should speak some Chinese or at least go with someone who does. It is also possible to go to a very elegant Chinese restaurant and pay a lot.

One thing you really should know is: prices are negotiable in China. If you think that the asking price is too rich for your blood, ask the seller to reduce the price. If they refuse, just leave. They'll usually beg you to come back. I'll teach you some easy Chinese for this situation: say the letters: P-N-E, E-D-R (pianyi yi dianr). It's difficult for an average American to ask this (personal experience, believe me), but for Chinese, it's normal every place except for grocery stores and restaurants. They'll always have the nerve to ask for an insanely high price; get the nerve to offer a ridiculously low price (maybe half of what you think it's worth). You'll meet somewhere in the middle.

Dec 6, 2012 22:07	#14
GUEST54242	So in the end if i go to china with $10,000 would i be a rich man or a wealthy man?

Dec 7, 2012 03:37

#15

GUESTCATHY

Quote:

Originally Posted by GUEST54242

So in the end if i go to china with GUEST542420,000 would i be a rich man or a wealthy man?

Hi, that equals to RMB 62,313. I have to say you will not be a rich or wealthy man.

Let me explain it to you. Currently, the average price of house property in Beijing is over RMB 30,000/square meter. And a manager's salary in a good company can be RMB 20,000/month or more.

Dec 11, 2012 22:57	#16
GUEST22201	Today 500 USD is only 3120 RMB It's very small money, one week salary!!!

Feb 1, 2013 11:22	#17
GUEST59160	try looking up the (COLA ) for china. Cost of Living Average that will help. China has rampant inflation but the is a CPI you can find.

Feb 17, 2013 21:02

#18

GUESTPHIL

I've been living in China for 2.5 years now.
What does 3,386.92 CNY get you here?:

3600CNY is my monthly rent on an alright 2 room and a bathroom flat next to the Olympic stadium in Beijing.
Or 1500CNY a month for a small room sharing with 2 other bed rooms
1000CNY is the cost of a small run around electric bike.
5 CNY of an average loaf of bread.
14 CNY for a plate or rice and meat an vegetables.
5000 CNY for a 16GB model new iPhone
140,000 CNY for a new Chinese made 4x4 car with gadgets.

Compared to the USA, local food is cheaper, foreign imports are more expensive.

Mar 6, 2013 01:11	#19
GUEST94125	Dont you understand!!! Question here is the worth of 3,386.92 CNY What can it buy? dont be dumb again to mix 6.77385 CNY with 6,77385 CNY again... mind the DOT vs COMMA we are trying to understand what will it buy in return of USD500 (or 3,386.92 CNY) in china an apple, a car or a house? I'm trying to understand the value

Apr 5, 2013 09:58	#20
GUESTDAVID H	I would also like to know this very much. I can't quite understand by the way it is being explained. Dot vs Comma etc. For example if a person charges $100 USD for 'services' in China, how would they be able to live, compared to someone in the US charging charging the same. I very much appreciate your efforts . .

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