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How does everyone in China deal with everyday expenses? Cash only? |
Travel Info specifically in the state of Hangzhou... I read an article in the paper saying that people buy houses and cars with suitcases full of cash. cash seems to be how everyone pays for their expenses. credit cards are very few there it seems. please fill me in on what i should expect, as prospective foregin student there. Is this what i should expect? Do students have any benefits financially? After taking out a loan in a Chinese bank, should i frequently use ATMs, or credit card? Travel Tips Yes that is pretty much how it works. The Chinese people are huge savers of cash. They purchase everything with it, though many have ATM cards that big businesses but not small ones will accept. I am not sure if a student has any benefits financially, but from my experience, the bank refused to give me a loan to buy a house for any amount because I am not a permanent resident. You can get a Credit card, not sure how to go about it. The ATM cards are not based on the mastercard, visa or any of the big credit card companies, so if you want to buy something from the states and have it shipped here, it is a hard, but not impossible. I know this answer is not complete, I am only giving you what I know. Signed, an ex pat living in the heart of China Peace Jim . Others Consider this, if "everyone in China" answered your question, you'd find your life is too short to read all the responses. |
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