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Thread: How much is $500 USD REALLY worth to the Chinese (yuan)
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[quote=GUEST06173,467906]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. [/quote]
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