In the past, CSA students budgeted around $8-10USD a day. Your major expenses are meals and incidentals, which are inexpensive in China. You will be able to live comfortably on between $200-$300USD a month, unless of course, you love to shop or hit the clubs three night a week.
Meals typically between $4-$7USD a day depending on your tastes. Again, if you are a gourmand and plan on sampling some of the city's finer restaurants you should plan your budget accordingly.
A beer at an average bar costs between 3-5$USD, and entrance fee for more popular clubs seldom exceed 7-10$ on weekends and event nights. If you are on a severe budget one can always find liter bottles of Tsingdao for around 0.35-0.60$USD at most shops and stores.
Transportation is plentiful and inexpensive. Buses crisscross the city and are the cheapest way to get around at 1RMB a ride, or roughly $0.15 cents. A ride on the subway costs 3-5 RMB depending on your destination. Taxis are always a convenient way to get around town. Taxis start at 10RMB and increase by 2RMB per kilometer. A taxi across town or downtown costs around 45RMB or $5.65USD. Many students also choose to buy bicycles. A basic bicycle costs between 100-200RMB, and is a very efficient way to get around.
Travelers' checks can be exchanged at the Xi Jiao hotel and on campus. Many students use their ATM cards from home as it is possible to withdraw local currency from a number of Bank of China branches and international bank branches throughout the city. In addition, credit card advances are available at larger banks downtown for a small fee.
The official exchange rate for US dollars is approximately 8RMB to $1USD. For an up to the minute rate please use the live currenct conversion tool at the top of this page. Travelers' checks trade at a slightly higher rate than cash. |
