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November 08, 2004

money

One of my biggest worries was would we make enough money when teaching in China to be able to support ourselves when only earning about 700 Aus a month.

the following is a list of prices for things in China.


Value of Goods and Services

The current exchange rate (March 2004) for the Australian Dollar (AUD) to the Reminbi (RMB) is $1.00AUD – 6.00RMB.
Thus, everything is China is very cheap. These are just a few examples:
- Intra city bus fare 0.5-1.00RMB ($0.08AUD - $0.16AUD)
- Mamu 2RMB ($O.32AUD)
- Packet of cigarettes 2-10RMB ($0.32AUD - $1.60AUD)
- Bottle of beer (600ml) 2RMB ($0.32AUD)
- Average breakfast - 1-2RMB
- Average lunch - 5RMB
- Average dinner - 5-8RMB.
- 1/2 Kg pork 11RMB ($1.93AUD)
- 1/2 Kg beef 15RMB ($2.50AUD)
- Weekly supply of vegetables - 10 RMB
- Bottle of coke or fanta (600ml) - 2.5RMB
- KFC - ZINGER BURGER - 10RMB
- MacDonalds – Big Mac – 10RMB
- Purchase of a VCD/DVD disk - 2-5RMB
- CD’S/Tapes 1-5RMB
- DVD player - 800RMB ($130.00AUD)
- VCD player - 200RMB ($33.00AUD)

Clothes and shoes are extremely cheap. As China is primarily a market - based economy, items such as gold, silver, diamond, jade Chinese artifacts etc are extremely cheap. The opportunity to bargain is there also.( It is a generally accepted rule of thumb that when buying clothes and shoes to begin bargaining at 66% off the marked price. On most items a discount of 50% is acceptable to the customer and the merchant alike.)
Again, a liaison with this organisation and/or the school will aid the Foreign Teacher in order to “show him/her the ropes” concerning living and working in China.

Posted by worldofwyld on November 8, 2004 07:20 AM
Category: Preparations
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