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China Living Tips
How to Find a Proper House (一)
Housing & Finance
Purchasing or Renting a Home and Office in Beijing

If you are a newcomer in China, you may find it difficult to locate a house for yourself. The Beijing Housing Service Corporation for Diplomatic Missions will provide free consult service on office or residence housing, including recommending to foreign institutions suitable candidate houses when necessary.

You may also rely on trust-worthy housing intermediaries to do the job for you. When purchasing houses, you need to check whether the real estate developer has the full set of formalities for the sale.
About the Currency
Housing & Finance
Cheat Sheet

• 10 fen (分) is 1 jiao (角)
• 10 jiao is 1 yuan (元), the base unit
• yuan is commonly called kuai (块)
• jiao is commonly called mao (毛)
• 10 is shí (十)
• 100 is bǎi (百)
• 1000 is qiān (千)
• 10000 is wàn (万)

The official currency of the People's Republic of China is the renminbi (人民币 "People's Money"), often abbreviated RMB. The base unit of this currency is the
 yuan (元), international currency code CNY. All prices in China are given in yuan, usually
either as ¥ or 元.

The yuan is pegged around ¥7.2-7.3 to the US dollar as of mid January 2008. The official subdivisions of the yuan are the jiao (角), at 10 jiao to the yuan, and the fen (分) at 10 fen
to the jiao. A coin worth ¥0.10 will thus say 壹角 ("1 jiao"), not "10 fen", on it. But in colloquial Mandarin, nobody ever speaks of yuan; the standard term is kuai (块), and the
jiao is also dubbed the mao (毛) instead. The fen remains the same, so a price like ¥3,75 would thus be read as "3 kuai 7 mao 5 fen" (although the trailing unit is usually omitted).
Scholarships in China
Housing & Finance
The Chinese government has set up the government scholarships to finance students and scholars in the rest of the world to study and do research in Chinese universities,
enhance mutual understanding and friendship between the Chinese people and peoples of other countries and promote Sino-foreign exchanges
 and cooperation in such fields as education, science and technology, culture, economy and trade.

According to the agreements or programs
reached between the Chinese government and governments of other countries and international organizations, the Ministry of Education is responsible to grant the
government scholarships and entrusts the Chinese Scholarships Council (CSC) with the enrollment and management of daily affairs concerning international students in China who study on the Chinese government scholarships.
What is the Most Convenient way for a Visitor to Carry Money?
Housing & Finance
If you're going to be in China for more than a month, set up a local bank account. It only takes a few minutes and you\'ll be able to use your account card anywhere in China without paying an exorbitant transfer fee! You also get a better rate on your dollar.

If you set up a Chinese account, it means that you'll be able to use your card in any ATM, and the cost is 2RMB per time, or free if you use your own bank's ATMs. There are no monthly charges for keeping a bank
account open, or fees for paying with debit card, which means it's cheaper than keeping
 using your overseas bank card to withdraw money.
FAQ About Buying Property in China
Housing & Finance

Do I need a Chinese name?
For a foreigner to purchase a new property or a second hand property in Beijing, the regulations and taxes are the same as for Chinese buyers. The foreign purchaser needs an authorized Chinese name (notarization). The cost will be RMB200. It is better to have several copies for a future usage. One additional copy is RMB10. The name on your property
license should contain your passport name as well as your Chinese name.

What is the Procedure to Purchase a new Property?
Housing & Finance
1) yourhome real estate - helps you in selecting a suitable property. We:

2) Pay a visit to the property.

3) Negotiate the price and payment issues.

4) Study the sale and purchase contract.

5) Consult the appointed lawyer for the safe title transaction.
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