How Much Is $100 Us in China?
In China, 100 US dollars is equivalent to 700 yuan. So, 700 yuan, in China, you can buy one ton of coal, 10 kilograms of beef, 87 kilograms of rice, 233 bottles of Coke and 350 bottles of mineral water.
Many prices in China are still very different from those in the United States. American labor is very expensive, while common food is very cheap. take meat, for example, fruit and vegetable beef is very cheap in the United States. The price of a jin of beef in the United States is only less than 5 US dollars, and you can buy more than 20 jin of beef for 100 US dollars, while it is very good for our country to buy 3 jin of beef for 100 yuan.
But this does not mean that 100 yuan in the United States is more expensive than 100 yuan in China.
Is it the same to spend 100 dollars in the United States and 100 yuan in China?
Spending 100 dollars in the United States is definitely different from spending 100 yuan in China.
The per capita disposable income of the United States in 2017 was $57700, while our per capita disposable income in 2017 was only $8800, a difference of 6.56 times.
Americans generally earn US $3,000 to US $4,000 a month, and our domestic monthly income is also generally RMB 3,000 to RMB 4,000 a month. On the surface, there seems to be no difference, but the purchasing power is completely different.
In terms of prices, most goods in the United States are also cheaper than those in China. For example, in the United States, a jin of beef is generally about 5 US dollars, while a kilo of beef in China is generally about 40 yuan, and there are cars of the same type. The United States may only need about 30,000 US dollars each, and we need 20,000 to 300,000 RMB.
In the United States, if a family of three cooks on their own, it may only cost 1000 US dollars a month, while in China, if they also cook for themselves, it generally costs about 3000 yuan a month.
When Americans go to the supermarket, they usually like to prepare food for a week, and a car full of food costs only about $200, while a car full of food for a week may cost more than 1000 yuan.
Many people are thinking that the conversion of 200 US dollars into RMB is not much different from 1000 RMB, and the purchasing power of the United States is not much stronger.
What Can I Buy for 100 Rmb in the United States?
When many people mention the United States, the first thing they think of is the economic development of the United States and the quality of life of the local people.
As a result, they think the price in the United States is relatively high.
What can I buy for 100 yuan in the United States?
If you change 100 yuan into RMB, you can get about 15 US dollars.
What about the price in the United States?
In the United States, the price of ten chicken legs is about $0.90, the price of eggs is about $0.4, and the price of pork is about $2.
If you look at cooking oil in the United States, about five liters of cooking oil is about $8.
Is Spending 100 Dollars in the United States the Same as Spending 100 Yuan in China?
First of all, in terms of purchasing power, the purchasing power of US dollars must be stronger than that of RMB.
Judging from some side phenomena, the withdrawal denomination of the ATM in the United States is 20 US dollars, while that of the Chinese ATM is 100 RMB.
What does this mean?
You can understand that the setting of the ATM is that withdrawing a piece of money can satisfy a full meal for a basic family (a family of three).
The price level also reflects this.
Because of the high level of mechanization, things are sold relatively cheaply in the United States, except that manual labor is more expensive.
Clothing, food, housing and transportation, in the United States, a few dollars can handle one thing, famous brands may be dozens of dollars, China will have to increase several times.
Basic items such as beef, fruits, vegetables and jeans can be bought for a few dollars.
A friend who went abroad lamented that 100 US dollars can really buy a lot of things in the supermarket.
As China’s consumption pattern and logistics system are still developing, there are not many areas where everything can be bought in one place.
So you can understand that one hundred dollars can do more things (buy more kinds of things) in the United States.
Is the Consumption of Us Dollars in the United States the Same as That of Rmb in China?
Let me give you a few examples:
- Iphone 5S, China RMB 4888, US $649.
- The most common haircut, RMB 15, US $15.
- Luxury LV bag, RMB 50000, US $2500.
- Daily consumable pork, RMB 15 / jin, US $1.39 / jin.
- Beef, RMB 45 / jin, US $3.99 / jin.
- Green pepper, RMB 3 / jin, US $2.99 / jin.
Given these examples, I hope you can have a general understanding.
In big cities like New York, a McDonald’s set meal costs about $5, while in smaller cities it is as low as $2 to $3.
Even for high-end restaurants and occasions where formal attire is required, a dinner party costs about $50 to $60, plus a 15% tip.
Then let’s talk about house prices. Although prices vary from state to region, in most cases you can buy a good house for 40 to 500000 US dollars. The difference is that in cities where you compare popular, you can only buy townhouse or condo, with basement on the upper and lower floors, but you can buy a very nice house with lawns in general areas.
In Vermont, for example, you can buy a nice house with 3 or 4 bedrooms and more than 2 full bathrooms with 5 mi 10 acres for more than $300,000.
Generally speaking, it costs almost US $500,000 to buy a 250sq m house in the United States and 5 million RMB to buy a 250sq m house in China.
When it comes to the price of clothes, take CK as an example. A white shirt can be bought in the United States for about 40 US dollars. Even if it is converted into RMB, it is much cheaper than at home, and compared with their income, it is indescribably cheap.
And all shopping malls will give discounts from time to time, easily 40%off on the basis of the original price.
A domestic MM told me with deep feeling that a shopping trip in China costs more than 1000 yuan for clothes. In the United States, unless you buy a first-line brand like LV or ARMANI, it is really not easy for people like CK and DKNY to spend more than 1,000 yuan at a time.
How Many Things Can You Buy With One Dollar in China?
Because RMB is the legal tender in China, you can’t buy zhidao things directly with US dollars in mainland China. You can go to some stores that are willing to accept US dollars or foreign trade, or you can exchange them into RMB and buy them later.
In the foreign trade store, there should be no one-dollar merchandise.
If you change it into RMB, it’s about 1:6. You can buy a bag of instant noodles or six eggs or three jin of rice.
Can China Buy Things With Us Dollars?
I guess you dare to use it and no one dares to accept it.
It’s mainly trouble. it’s annoying enough for small traders to charge 100 yuan fake RMB, and it will be very angry to charge 100 fake US dollars.
Besides, we don’t know how to identify the dollar in the first place, there is no equipment to identify the dollar, and the exchange rate is also a problem.
As long as the domestic currency is stable, they generally do not like to collect US dollars, which is too troublesome.
The law stipulates that RMB is the only legal tender in the people’s Republic of China.
But if you really want to spend US dollars, you can also spend it. As long as you spend it at the exchange rate of 1:5, I’m sure you can do it.
Direct trading is not allowed, it will be a crime.
Only RMB is allowed to circulate in China, and those who have foreign currencies can go to banks at or above the regional level for exchange.
Common Sense of Currency Exchange
From 1 US dollar = 6.2092 RMB, we can see that 100 US dollars can be changed into about 620.92 RMB.
If there is a limit in domestic banks, you can exchange 50, 000 US dollars or equivalent currency every year, and you can go to the Bank of China to exchange it. Specifically, take today as an example, the middle rate is 620.92 RMB / 100 US dollars, which can be exchanged all at once.
When exchanging, bring my relevant valid identity documents directly to the bank to handle the relevant business.
At the same time, only the Bank of China supports small foreign currency exchange business in China.
So we need to find the nearest business hall of the Bank of China, which is available in almost every city.
According to the listed interest rate at that time, it can be converted directly into RMB for those with less than 10,000 US dollars. If it exceeds the rate, it is necessary to declare the legal source of income or apply to the local safe.
Consult the local bank for specific operation, of course, you’d better bring your ID card and hukou book and other relevant certificates.
Valid identity documents include: ID card (Chinese citizen, household registration book, identity document for soldiers (Chinese people’s Liberation Army), identity document for armed police (Chinese people’s Armed Police), permit for Hong Kong and Macao residents to travel to and from the mainland (Hong Kong and Macao residents), Taiwan residents’ pass for travelling to and from the mainland (Taiwan residents), passport (foreign citizens or Chinese citizens with passports).
The exchange rate of RMB is different from month to month or even every day about how much 100 US dollars equals. If you are not sure what the daily exchange rate is, you can inquire about it online or in the bank. The small amount may not be much different, but if the amount is relatively large, you have to consider the exchange rate.
