Money and Economy
Chinese money is called the RenMinBi (RMB). As China’s economy improves, the value of its currency is expected to gain strength as well.
When visiting China, it is advisable to change some of your cash into RMB for swift use inside the country. If you carry USD or EURO’s, it is still possible to change that money at a bank in the mainland, just make sure to have your valid passport with you. Atm’s are widely available in big cities, your card however needs to be a visa or mastercard. Please consult closely with your program coordinator about how you can access or change currencies once you arrive in China.
Life in China is still relatively affordable; the standard level of living for a young person with just average needs can be in the range of USD300-500. Check with a trusted currency exchange website, or a quicker option is to download such an application on your smartphone so you always have it with you
Working in China
The allure of China and its abundance of opportunities in the job market continue to attract significant investment and foreign individuals who want to extend their careers and work in China. For foreigners who wish to work in a Chinese company, basic Chinese language proficiency is usually required along with an impressive career background. Apart from Chinese companies, international companies that expand into China to take advantage of the economic boom that’s taking place are also occupying big cities.
The job sectors that are most popular with foreign professionals and interns alike include the business sector, branching into trade, startups, and consultancies. In the education sector, there is constant demand for professionals that specialize in English education, training and translation. Browse our internship section to understand more. Individual business people also do well in China’s big cities, it is common for them to seek Chinese business partners or create network connections with them for easier operation of a business.
As a professional based in China or interacting with Chinese people, it is important to be aware and learn some of the Chinese business practices for the convenience of one’s own business functions. Chinese business etiquette pays attention to behavior; “guanxi” or networking/relations is the most vital aspect one can master in the business community in China. Since the West and East differ so greatly when conducting business, it is always important for each party to learn the ways of the other partner. In particular, it is advantageous for Westerners to familiarize themselves with the Chinese practices when they visit China; professional etiquette sessions and training programs are widely available.