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How much $ to bring?

 
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jg



Joined: 26 Mar 2003
Posts: 1263
Location: Ralph Lauren Pueblo

PostPosted: Sat Jun 14, 2003 8:38 pm    Post subject: How much $ to bring? Reply with quote

Hello all,

How much should I bring, or better, what is a respectable low? Everyone says that China is cheap but I know there are some start-up costs I will incur, as with any new venture. I will be traveling from Shanghai to Jinan, but after that I dont imagine I will be spending a lot (housing is paid for). I don't eat at KFC, McDonald's, or their like and I plan to keep the "westerner" indulgences to an absolute minimum (big fan of local markets and their food stalls here!).

However, I have no intention of getting off the plane and going straightaway to Jinan... it seems wiser to rest a day in a hostel in Shanghai, stroll around a bit, then get the train to yonder camp... how can this be done on the cheap? Is $500 US enough? What is the one must-see in Shanghai?

Jay
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Minhang Oz



Joined: 23 Apr 2003
Posts: 610
Location: Shanghai,ex Guilin

PostPosted: Sat Jun 14, 2003 9:59 pm    Post subject: Reply with quote

Jay
You PM'd me re your other thread, so I'll answer several questions in one hit. For cheap Shanghai accommodation [a rare commodity] look at the "Shanghai to Wuhan" thread on this forum, where Roger makes a recommendation.
As this is the most Western city in China, its probably a good introduction to the country. The Bund [Waitan to the locals] is gracious and deserves a stroll. The skyscrapers on the Pudong side of the river are impressive but don't need a visit unless you want to ascend the Oriental Pearl Tower. A night time river cruise is recommended by many. For a glimpse of more traditional life, visit the old city area around Yu Garden [Yu Yuan], which is itself a Disney World rendition of China. You can do all this in a day's leisurely walk.
Despite disparaging comments made by others, LONELY PLANET is a useful starting point for first timers, except its the size and weight of a house brick.
Useful guides are www.expatsh.com and www.thatsmagazines.com The classifieds in both of these can help if you're looking for work later on.
The museum in People's Square has a great collection of traditional art. A visit to a water village, such as Zhujiajiao ia well worth it, but is a full day trip.
On costs, if you stay away from all things Western [although KFC etc aren't too pricey, and have the best toilets] 400 rmb, or 50 US a day should be ample to live as a budget tourist in Shanghai-I could do it for half that, but wags comment on my stinginess. Once you've settled down to work 100 a day should do the trick. If your school is providing meals-edible ones that is-even less. Everyday life is VERY cheap. A major credit card is the best way to bring your money. You can't use it at many ATMs, but can get cash from big branches of the main banks. Blackmarket deals are not recommended for "newbies" as there's a lot of counterfeit notes around.
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oprah



Joined: 26 Apr 2003
Posts: 382

PostPosted: Sat Jun 14, 2003 11:03 pm    Post subject: Reply with quote

What are "blackmarket deals"
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Minhang Oz



Joined: 23 Apr 2003
Posts: 610
Location: Shanghai,ex Guilin

PostPosted: Sat Jun 14, 2003 11:34 pm    Post subject: Reply with quote

People who hang around outside banks or where there are lots of foreigners, and ask you to " change marney". They're illegal, but quite open in their dealings, probably with police cooperation. Blackmarket rates when selling your foreign currency aren't very much higher than official bank rates, so only worthwhile if selling large numbers of $$$. Watch for getting shortchanged, and for fake 100rmb notes-producing these is a whole industry in itself. I've met taxidrivers who have been taken with this one-what chance have you got? And if all of your transaction is fake, try explaining to the police why you're passing counterfeit notes.
I know people who transact this way all the time and don't get stung, but they know what they're doing.
Useful for changing leftover rmb into hard currency without spending hours in the bank though.
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struelle



Joined: 16 May 2003
Posts: 2372
Location: Shanghai

PostPosted: Sun Jun 15, 2003 4:02 am    Post subject: Re: How much $ to bring? Reply with quote

Quote:
How much should I bring, or better, what is a respectable low? Everyone says that China is cheap but I know there are some start-up costs I will incur, as with any new venture.


Yes, that's for sure. Never underestimate the start-up costs!! When I came to Shanghai 2 years ago, I brought along $1000US with me, thinking it would be more than enough. However, I barely scraped by until a month later when regular pay started coming in. The biggest problem is the inflated rents and pre-paid deposit. Our school didn't provide accomodation, although they linked us up with estate agents and interpreters to make the process very smooth. Even so, local landlords advertised rents of 50% more than the local price. Agents were happy, as they got more commission. I haggled, but I still paid way more than a local would. If I had to do it all over again, I would rely on guanxi, that is, ask my students and local friends to look for housing privately.

Since your housing is being paid for, however, you don't have to worry about this, so $500 should be OK.

An approximate breakdown of the start-up costs for when I first arrived in town:

2 months rent deposit + 1 months rent -> $650
Food and entertainment -> $200
Transport -> $50 (very cheap)
Telephone Calls -> $25 (also cheap)
Other (travel, sightseeing, etc.) -> $75

Once the pay started coming in, then the savings really took off. Fittingly enough, I went through a 'cash flow gap', which is what we're talking about in my Business English class at the moment. So I usually bring up this story and share it with my students.

Depending on how long, and especially where, you stay in Shanghai, costs can go up. Given a budget of $500, I'd say no more than a week. Once you leave Shanghai, costs drop off substantially, especially for rent and hotels.

Even so, it's really worth it to enjoy your time in the big city. In addition to the places already recommended, check out Nanjing Lu walk street, at night it's fantastic. Also, there's interesting nightlife on Maoming Lu, and especially XinTianDi.

Steve
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Atlas



Joined: 09 Jun 2003
Posts: 662
Location: By-the-Sea PRC

PostPosted: Wed Jun 18, 2003 3:35 am    Post subject: How much $ to bring? Reply with quote

Quote:

The biggest problem is the inflated rents and pre-paid deposit. Our school didn't provide accomodation, although they linked us up with estate agents and interpreters to make the process very smooth. Even so, local landlords advertised rents of 50% more than the local price. Agents were happy, as they got more commission. I haggled, but I still paid way more than a local would. If I had to do it all over again, I would rely on guanxi, that is, ask my students and local friends to look for housing privately.


I wonder if you can be more specific regarding rents, accomodation, etc. I too will be arriving in Shanghai soon, for a longterm stay, and prefer to get my own place. Do you have any suggestions or advice? I have Shanghainese friends, should I ask them to rent a place on my behalf for a better rate? What kind of rent am i looking at for a nice, clean one or two bedroom apartment? Any info is appreciated.
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struelle



Joined: 16 May 2003
Posts: 2372
Location: Shanghai

PostPosted: Wed Jun 18, 2003 4:00 am    Post subject: Re: How much $ to bring? Reply with quote

Quote:
I wonder if you can be more specific regarding rents, accomodation, etc. I too will be arriving in Shanghai soon, for a longterm stay, and prefer to get my own place.


Of course. The rent heavily depends on the area you stay in, but also the size of the house, number of rooms, quality, etc. If you're near a subway line or central area, rent will be more. In Puxi, single room 60 square metre places near Jing An Temple and Nanjing Road tend to go for 2500RMB for expats, and locals pay around 1500RMB. In Xu Jia Hui, I've got friends renting a 2 bedroom place (150 square metres) for 6000RMB, where locals pay 4000.

Other places away from the subway lines go for less. Between the inner and outer ring roads, for example, is booming real estate. You can rent new aparments, 2 bedroom, for about 4000. Locals, I'd guess, pay 3000 for the same place.

Agents would charge the expat price, but if you have Shanghainese friends rent on your behalf, you could get the better rate. Depending on where you want to live, I'd say between 2000-3000RMB a month is a good price (local price) for a decent 1-2 bedroom apartment.

Any comments from others?

Steve
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